Trade Balance Lifts Kiwi

Morning Report: 08:30 London

• This morning, markets are decidedly mixed after the US Federal reserve rejected the capital plans of five banks last night. Markets slumped at the close, but are staging something of a fight back this morning.                 
         

• The big mover is the NZD/ USD after better than expected trade balance data overnight.

                                                       
                             
• Gold and silver are still under pressure, with silver hitting its highest level for six weeks.

                                                                                   
                            

• The Australian dollar is performing well in line with the Kiwi, though so far the gains are limited.

                           

• The euro continues to display weakness, especially against the British pound.

                             
                                                      
Coming up today:
• Coming up today, we have UK retail sales at 09.30, with a 0.5% gain expected.
• Following this we have US unemployment claims at 12.30, with a figure around 326k on the cards. Final GDP numbers are released at the same time.
• Pending US home sales follow at 14.00.

Trade Idea:
• Silver has come under heavy selling pressure, but it is yet to reach its overbought peak. As such, there could be more downside to come over the next seven days.

                                     

A good way to play this is a LOWER trade predicting that silver closes lower than $19.25 for a potential return of 196%.

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

Summary: