Markets Pause At Highs

Morning Report: 08.45 London

• Markets have paused this morning, with the S&P 500 pulling back from the highs. We’re seeing similar movements on the US dollar which fell just short of the 2014 highs yesterday.                                                                                                              

                               
                                                                                                                                     
                                
                            
• Overall markets are quiet this morning though, with the NZD/USD one of the biggest movers, up 0.19% – recovering some of yesterday’s losses.

• Silver is rebounding after heavy falls yesterday, but there is some way to go to make up for the big losses on Thursday.
           
                               

Coming up today:

• Coming up today we have German Ifo business climate at 09.00, released alongside European M3 money supply and private loans.

• Then at 09.30, we get the latest UK GDP figures.

• At 13.30, we have the release of core durable goods orders.


Trade Idea:

• Gold’s recent sell off has further to run, with the precious metal still far from over sold.

                               

A good way to play this situation is a LOWER trade predicting that gold closes below $1975 in 5 days time for a potential return of 178%

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