Slowdown fears spook markets


Morning Report: 08.45 London

• This morning, financial markets are on the back foot after Chinese, French and then German manufacturing figures all came in below expectations. The S&P 500 fell heavily last night and is seeing some follow through selling, while the dollar index is bidding higher.

• The big movers are the yen pairs as risk appetite gives way to cautious trading and therefore yen demand. The USD/JPY is down 0.59%, with the AUD/JPY off by 0.88%.

• Commodities are actually have a good day, with Silver up 0.60% and gold rebounding momentum, up 0.27%.
 

Coming up today:

• Coming up today we have core US CPI from 13.30 and US unemployment claims. This is followed by Flash manufacturing PMI at 14.00 and US Phill Fed manufacturing at 15.00.

Trade Idea:

• Gold’s uptrend took a hit in the last two days, but if anything the recent sell off has helped let off some of the steam which had been building.

• Momentum still looks good with the precious metal still not over bought in the short or medium term.
 

A HIGHER trade predicting that gold closes above $1325 in 7 days time could return 169%.

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

Summary: