Festive Cheer as Gold Rebounds

Morning Report: 08.30 London

• This morning, the dollar index is still dominated market movements, with the yen pairs continuing their ascent.

• In other dollar pairs, the EUR/USD still struggling, while in commodities, Silver is struggling in the face of dollar strength.

• This seems to matter little to gold though as it recovers well this morning, up around 0.45% so far.

Coming up today:

• Coming up today we have UK current account data at 09.30, with final GDP and public sector net borrowing released at the same time.

• From 13.30 we have North American data with Canadian Core CPI and retail sales. US Final GDP figures are released at the same time.

Trade Idea:

• Gold’s bounce could have some room to move here with the festive positivity kicking in, making a HIGHER trade look attractive.

A HIGHER trade predicting that gold will close above $1225 on Monday could return 405% 

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

Summary:

PLACE A TRADE NOW

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The pound is holding yesterday’s gains, especially against the euro on the back of better than expected unemployment data.

The sell off is gathering pace, but as of yet is not in extreme over sold territory which could mean more downside to come.

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