Commodities Feel The Pressure 

Morning Report: 08:30 London

• Commodities continue to feel the pressure this morning, with silver down another 0.79% and gold off by nearly 0.40%. The strengthening US dollar is having a significant impact here.         

                             
                                                                                                                                         

• Stock markets are holding at the highs, but there’s hardly a widespread bullish feel to markets this morning.
                    
                             

• The Australian dollar is performing well, despite private capex figures coming in well below estimates.

                             

• The pound is recovering from yesterday’s heavy selling off, but is not out of the woods yet as the GBP/JPY slips towards recent support levels. This comes despite calls to raise interest rates sooner rather than later.

                             
                                                                                                                                                         
Coming up today:

• It’s a public holiday across Europe today so trading activity could be contained within recent boundaries.

• From 13.30 we switch to the US with the release of preliminary GDP data and US unemployment claims.

• Pending home sales follow at 15.00.

Trade Idea:

• Just like gold yesterday, silver’s sell off his building momentum, but so far has not reached significantly over sold levels.

                             

As such a LOWER trade could be the way to play this. A binary trade predicting that silver will close LOWER than $18.75 at tomorrow’s close could return 197% if successful.

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

Summary: