Markets Cautious As China Slips

Morning Report: 08.45 London

• This morning, financial markets are on the back foot after heavy selling yesterday. This morning’s pressure comes after Chinese inflation landed below expectations.
 

• Elsewhere, the dollar index is backing off, helping gold and silver to rally.

                               

                                                           
• The yen pairs are on the rise, especially the EUR/JPY as the euro starts to find its feet again.

                                                                                                                                                                                                           
Coming up today:

• Coming up today we have Canadian housing starts at 08.00.

• This is followed by US crude inventories at 15.30 and the 10 year bond auction results at 18.01.

• The main items of the day are the release of the FOMC meeting minutes at 19.00 and ECB president Draghi speaking at 19.30.

Trade Idea:

• The NZD/USD is flowing higher this morning despite disappointing Chinese inflation data. This bodes well for further upside and a bullish bet could be the way to play this.

                               

A HIGHER trade predicting that the NZD/USD will close above 0.8825 in 14 days time could return 118% if successful.

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

Summary: