Busy Week For a Boring Period

Morning Report: 08.45 London

• We have a busy week ahead in what Citi are calling a ‘boring month’. So far though markets are still in their summer recess, with the main pairs baring moved from Friday’s close.                                                                                                              

                                                                                                                                                                                                                  
• The dollar pairs are showing some movement though with the holding at the highs, forcing pairs such as the NZD/USD to back off again.

                               

• The AUD/USD also continues to struggle after rebounding from its resistance zone.
           
                               

• Gold and silver and slipping lower after Friday’s recovery rally.

                               

Coming up today:

• US Pending home sales is the only item of note today at 15.00.


Trade Idea:

• The NZD/USD slide shows no signs of abating so another round of LOWER bets could pay off here.

A LOWER trade predicting that the NZD/USD will close below 0.8525 in 4 days time could return 109% if successful.

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Summary: