Commodities
Plunge (again)

Morning Report: 06.15 London

• This morning, commodities are under pressure once again as oil slips to multi-month lows, while gold slips to its fourth straight day of losses.

                        

• The Dollar index has been under some pressure this morning, with small counter rally this morning.                       

•  The Australian Dollar is holding yesterday’s gains, but could be approaching the top of the current trading range.
                             

•  Meanwhile the Euro is pulling back after gains yesterday.

Coming up today:

• Coming up today, we have European German preliminary GDP at 07.00. Flash European GDP follows at 10.00.

• From 13.30 we switch to North America, with retail sales and core PPI. Following this we get Preliminary UoM consumer sentiment at 15.00.

Trade Idea:

• The USD/CAD is under pressure again this morning as oil prices slip to the lowest levels in months.           

The Dollar index is on a run right now and a good way to play this is a HIGHER trade predicting that the USD/CAD will close above 1.3400 in 25 days for a potential return of 158%.        

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