Morning Report: Gold Leading as Oil Slips To New Lows

 

WTI

 

Tue, 13 Jan 2015 08:27:48 GMT
This morning, commodities are on the move, with oil (WTI) slipping to $45 at one point this morning. By contrast, precious metals are in demand, with gold rising for the third day in a row.

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  • On a similar vein, gold producer Australia is doing well with the AUD/ USD up 0.25% this morning, thanks to strong Chinese trade balance.

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  • The Canadian dollar is still struggling however, with the USD/ CAD surging yesterday.

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  • With UK inflation expected to drop below 1% today, the GBP/ JPY is struggling, while the EUR/ GBP climbs higher.

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  • The S&P 500 is unchanged so far.

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Coming up today:
  • Coming up today we have UK CPI at 09.30, with +0.7% expected. RPI is expected to drop to 1.7%, while PPI is expected at -25%
  • In the US, JOLTS Job openings come out at 15.00, following by the 10 year bond auction at 18.01.
Trade Idea:
  • The GBP/ JPY is slipping lower again and could slip even further today if inflation drops further than expected.

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  • A good way to play this is a LOWER trade predicting that the GBP/ JPY will close below 179.00 in 3 days time for a potential return of 104%.

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

Summary:

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