Markets Ease Into Summer Doldrums

Morning Report: 08.45 London

• Markets continue to drift in the summer heat, with traders apparently content to hold at the highs. Global economic recoveries are being kept in check by the ongoing conflicts in Iraq and Ukraine.
 

                           
• The Australian dollar is the biggest mover, with the AUD/USD down 0.22% and the AUD/JPY off by 0.15%.


• Commodities are also soft in the summer heat gold down by 0.22% and silver by 0.10%.


                               
                             
Coming up today:

• Coming up today we have German Ifo business climate at 09.00.

• From 09.30 we hear more from Carney with the inflation report hearings at 09.30.

• From 13.05, we have FOMC member Plosser speaking, followed by S&P CS Composite HPI at 14.00.

• Finally at 15.00 we have CB Consumer Confidence and New Home Sales.

Trade Idea:

• The GBP/USD has been consolidating at the highs after the surprise push higher. While Carney is unlikely to outline anything too shocking this morning, we could see some more firming on of the Sterling position.

                               

A good way to play this is a HIGHER trade predicting that the GBP/USD closes above 1.7050 in 3 days time for a potential return of 146%.

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

Summary: