Markets march on after volatile week


Morning Report: 08.45 London

• Markets are mixed this morning with various cross winds buffeting market dynamics, but ultimately the bull run in equities appears to be still in rude health. The S&P 500 is no set for its highest close since the end of January, while the dollar index inches higher. Strong US manufacturing helped keep things back on track last night.

• Silver is pushing back as is gold, though both metals appear to be more in consolidation rather than full pullback.

• The euro is backing off, helping the EUR/GBP to dip back higher.

• Yen pairs are still volatile with the overhead resistance still causing problems.

Coming up today:

• Coming up today, we have UK retail sales at 09.30 alongside the latest public sector net borrowing.
• At 13.30, we switch to Canada, with PCI and retail sales data.
• US existing home sales follow at 15.00.

Trade Idea:

• Silver is the big faller today, but rather than heading for a pull back, the precious metal looks to be making a healthy consolidation. This could lead to further upside.

A good way to play this is a HIGHER trade predicting that Silver will close above $22 in 7 days time. This could return 146%.

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

Summary: