China Manufacturing Back On Track

Morning Report: 09.00 London

• This morning, stock markets have halted their recent slide after Chinese flash manufacturing came in above estimates. The S&P 500 suffered some heavy selling yesterday, but the market is now stable, with the dollar index also holding at the highs.                                                                                           

                               
                                                                                                                                                                   
                               

• The Australian dollar has been one of the big winners with its close links to China.

                               

• The British pound is struggling through ahead of today’s public sector borrowing figures.

Coming up today:

• Coming up today we have UK borrowing data and BBA mortgage approvals at 09.30.

• From 13.30 we have Canadian core retail sales.

• This is followed by FOMC member Powell speaking at 14.20.

Trade Idea:

• Silver’s down run has reached extreme levels, with both the weekly and daily time frames looking over sold.

A good way to play this is a HIGHER trade predicting that silver will close ABOVE $18.00 in 14 days for a potential return of 130% if successful.

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Summary: