Pound Stable After Global Volatility


Morning Report: 06.30 London


• This morning, the pound is on a firmer footing after setting off a wave of global volatility this week. Equities across the world have dipped, with the FTSE 100 falling by 2% yesterday.

                    

                    

                       

• By contrast, the euro is looking a little softer, with the EUR/GBP slipping lower.

                    

• Globally there is a general easing of pressure as the dollar index dips and USD/JPY rallies.

                     

                       

• The AUD/USD is also rallying after days of pressure.

                    
                                                                                                                                                                                                                                                                                                                                                      Coming up today:

• Coming up today we have an extremely busy day ahead, starting with UK average earnings index and claimant count change from 09.30. The unemployment rate is released at the same time.

• From 13.30 we switch to North America for Canadian manufacturing sales, alongside US PPI and Empire State Manufacturing.

• Then at 14.15, we get US capacity utilisation and industrial production.

• Bundesbank president Weidmann speaks at 15.00.

• US crude oil inventories are released at 15.30.

• Today’s main event is the FOMC statement and economic projections at 19.00, with the press conference following at 19.30.

Trade Idea:

Gold has rallied the past few weeks, but the precious metal has been far from consistent in its trends this year. In addition, any calming of Brexit fears could see gold slip back.

                     

A good way to play this is a LOWER trade predicting that gold will close below $1250 in 15 days for a potential return of 194%.

                          

                                                         

Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.

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