• Markets are staging a mild recovery this morning after heavy selling since mid Spring for financial markets yesterday. Geopolitical tensions have risen following the downed Malaysian plane in Ukraine and a ground offensive by Israel in Gaza. Added to this, the economic releases and news flows have been mixed, leading to a general atmosphere of uncertainty.
• The S&P 500 broke the 1960 level from the upside for the first time in July, while save haven assets were in demand.
• The dollar index held its ground yesterday, while the Japanese yen made big gains, forcing the USD/JPY below 101.25 overnight.
• There was further volatility on precious metals as gold and silver made big gains followed this morning’s reversals.
• The main risk-on pair, the AUD/JPY was caught up in the selling, but is rebounding aggressively this morning.
Coming up today:
• Coming up today we have Canadian core CPI & wholesale sales at 13.30.
• This is followed by Prelim UoM Consumer Sentiment at 14.55.
Trade Idea:
• While there will continue to be uncertainty and some volatility over the coming days, the AUD/USD’s rebound today is notable, especially as it comes from support levels.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Mild Rally After Jet Crash
Morning Report: 08.15 London
• Markets are staging a mild recovery this morning after heavy selling since mid Spring for financial markets yesterday. Geopolitical tensions have risen following the downed Malaysian plane in Ukraine and a ground offensive by Israel in Gaza. Added to this, the economic releases and news flows have been mixed, leading to a general atmosphere of uncertainty.
• The S&P 500 broke the 1960 level from the upside for the first time in July, while save haven assets were in demand.
• The dollar index held its ground yesterday, while the Japanese yen made big gains, forcing the USD/JPY below 101.25 overnight.
• There was further volatility on precious metals as gold and silver made big gains followed this morning’s reversals.
• The main risk-on pair, the AUD/JPY was caught up in the selling, but is rebounding aggressively this morning.
Coming up today:
• Coming up today we have Canadian core CPI & wholesale sales at 13.30.
• This is followed by Prelim UoM Consumer Sentiment at 14.55.
Trade Idea:
• While there will continue to be uncertainty and some volatility over the coming days, the AUD/USD’s rebound today is notable, especially as it comes from support levels.
Even in the current environment, there could be further upside from here. A HIGHER trade predicting that the AUD/USD will close above 0.9400 in 3 days time could return 190% if successful.
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. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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