Chinese uncertainty contains markets


Morning Report: 08.45 London

• This morning, financial markets are still subdued after a lack lustre session on wall street and uncertainty over the direction that Chinese policy makers may be taking. The Chinese renminbi has now fallen for the seventh straight day despite the controls apparently placed on it by officials.
 

• While stock markets continue to flirt with the highs, the dollar index is slipping lower again.

                           

                           
• The big mover is silver, helped by gold’s ongoing bull run.


• The AUD/JPY is managing to push higher despite the ongoing Chinese uncertainties.

                             


Coming up today:

• Coming up today, we have UK second estimate GDP at 09.30 released alongside prelim business inventories.

• In addition, we have US new home sales at 15.00.

Trade Idea:

• The current silver set up looks like a classic bullish consolidation, which makes a HIGHER trade attractive here.


A higher trade predicting that silver closes above 146% in 6 days time could return 145% if successful.

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

Summary: