• This morning, commodities are on the move, with oil (WTI) slipping to $45 at one point this morning. By contrast, precious metals are in demand, with gold rising for the third day in a row.
• On a similar vein, gold producer Australia is doing well with the AUD/USD up 0.25% this morning, thanks to strong Chinese trade balance.
• The Canadian dollar is still struggling however, with the USD/CAD surging yesterday.
• With UK inflation expected to drop below 1% today, the GBP/JPY is struggling, while the EUR/GBP climbs higher.
• The S&P 500 is unchanged so far
Coming up today: • Coming up today we have UK CPI at 09.30, with +0.7% expected. RPI is expected to drop to 1.7%, while PPI is expected at -25% • In the US, JOLTS Job openings come out at 15.00, following by the 10 year bond auction at 18.01. Trade Idea:
• The GBP/JPY is slipping lower again and could slip even further today if inflation drops further than expected.
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.
Gold Leading as Oil Slips To New Lows
Morning Report: 8.30 London
• This morning, commodities are on the move, with oil (WTI) slipping to $45 at one point this morning. By contrast, precious metals are in demand, with gold rising for the third day in a row.
• On a similar vein, gold producer Australia is doing well with the AUD/USD up 0.25% this morning, thanks to strong Chinese trade balance.
• The Canadian dollar is still struggling however, with the USD/CAD surging yesterday.
• With UK inflation expected to drop below 1% today, the GBP/JPY is struggling, while the EUR/GBP climbs higher.
• The S&P 500 is unchanged so far
Coming up today:
• Coming up today we have UK CPI at 09.30, with +0.7% expected. RPI is expected to drop to 1.7%, while PPI is expected at -25%
• In the US, JOLTS Job openings come out at 15.00, following by the 10 year bond auction at 18.01.
Trade Idea:
• The GBP/JPY is slipping lower again and could slip even further today if inflation drops further than expected.
A good way to play this is a LOWER trade predicting that the GBP/JPY will close below 179.00 in 3 days time for a potential return of 104%.
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.
Summary:
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