• Markets are mixed this morning on general fears that the global economy could be stumbling to a slowdown, with the IMF raising the probably of a Eurozone recession to four in 10. The S&P 500 is up slightly this morning, but these gains do not make a dent in yesterday’s sell off. The dollar index is rising cautiously after closing below its moving average for the first time since August.
• Gold and silver are on the rise as traders play the rebound and caution overtakes greed.
• Elsewhere, the AUD/USD is dropping after the Australian Statistics Burreau said it may have to revise recent employment figures.
Coming up today:
• Coming up today we have US crude oil inventories at 15.30, but the main ticket today is the release of the minutes from the last FOMC meeting
Trade Idea:
The AUD/JPY downtrend may have stalled, but the longer term movement remains negative. With the yen threatening to recover, there could be further downside from here.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Markets Mixed On Global Economy Fears
Morning Report: 09.00 London
• Markets are mixed this morning on general fears that the global economy could be stumbling to a slowdown, with the IMF raising the probably of a Eurozone recession to four in 10. The S&P 500 is up slightly this morning, but these gains do not make a dent in yesterday’s sell off. The dollar index is rising cautiously after closing below its moving average for the first time since August.
• Gold and silver are on the rise as traders play the rebound and caution overtakes greed.
• Elsewhere, the AUD/USD is dropping after the Australian Statistics Burreau said it may have to revise recent employment figures.
Coming up today:
• Coming up today we have US crude oil inventories at 15.30, but the main ticket today is the release of the minutes from the last FOMC meeting
Trade Idea:
The AUD/JPY downtrend may have stalled, but the longer term movement remains negative. With the yen threatening to recover, there could be further downside from here.
A good way to play this could be a LOWER trade predicting that the AUD/JPY will close below 95.00 in 5 days time for a potential return of 109% if successfful.
Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Fixed odds trading may incur losses as well as gains.
Summary:
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