Gold Tumbles on Russia

Gold Tumbles On Russian Declaration

Morning Report: 09:00 London
• This morning, as Russia recognises Crimea’s independence, financial markets are pulling back from yesterday’s relief rally. The referendum passed without incident and while the long term situation is still unclear, markets seem to only be concerned about the prospect of military action – something that has so far thankfully been avoided.
• Gold and silver are seeing the biggest sell off as investors offload previous bullish positions in the lead up to the crisis.
• The Australian and New Zealand dollars are also under pressure after the release of the last RBA minutes.
• The yen pairs are on the slide, helped by the ongoing bear market in the US dollar index.

Coming up today:
• Coming up today we have German ZEW Economic Sentiment at 10.00.
• From 13.30 we switch to North America with Canadian manufacturing sales, US building permits & Core CPI.
• Bank of England Governor Carney speaks at 17.45.

Trade Idea:
• The AUD/USD looks to have hit an overheard buffer and is pulling back sharply.
A trend reversal could be in the offing and a good way to play this is a LOWER trade predicting that the AUD/USD will close below 0.9025 in 3 days time for a potential return of 213%.


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

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