Gold Struggles On Bastille Day

Morning Report: 08.00 London

• This morning, financial markets are mixed, with commodities suffering and stock markets rebounding. The S&P 500 is on the rise again in early trading, while the dollar index finds new support..
                                                                                                               

                               

• Gold and silver are the morning’s main movers, down around 0.25% in early trading.

                               
                                                                                                                                            

• Elsewhere, the US dollar strength is putting pressure on the dollar pairs, especially the USD/CAD which is pushing higher again this morning.

                               

• The move is also lifting the main yen pairs as money flows away from Japan in the main USD/JPY pairing.

Coming up today:

• Coming up today we have European industrial production at 10.00.

• This is followed by ECB President Draghi speaking at 18.00.

Trade Idea:

• There was some consolidation at the highs yesterday for the NZD/USD, but this could be a pause before another move higher.

                               

A good way to play this is a HIGHER trade predicting that the NZD/USD closes above 0.8825 for a potential return of 113%.

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: