Markets Grind To A Halt On China Concerns
Morning Report: 09:00 London• This morning, financial markets are tightening as concerns rise about China’s future growth potential. In a related move, copper futures have taken a beating as speculators bet that China’s growth and construction rate will start to slip. The S&P 500 futures are largely unchanged.
• Gold and silver are seeing the opposite move as safe haven demand increases. Gold is up 0.56% so far this morning.
• The NZD/USD is also up another 0.24%, but Australian pairs are being hindered by China concerns.
• The yen pairs are generally lower, though movements are slight so far.
Coming up today:
• Coming up today, we have European industrial production due at 10.00 with an increase of 0.6% expected.
• Aside from this, it’s a quiet day until the RBNZ rate statement this evening.
Trade Idea:
• The EUR/GBP has risen sharply this week despite warnings from the Bank of England of future rate hikes.
• With resistance just overhead, now could be a good time to bet on a downside move.
A LOWER trade predicting that the EUR/GBP will close below 0.8300 could return 233% if successful.
Note: This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
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