Feb 8th 2016: Markets Steady After Rocky Week

• This morning, markets are stable after a rocky week that ended with another sell-off for global equities. Friday saw the release of below expectation US (and Canadian) jobs numbers balance against stronger unemployment and earnings. The dollar index is unchanged so far today after rebounding heavily on Friday.

• Elsewhere, the main forex pairs are making a modest rebound, with the Australasian pairs pushing ahead in slow trading.

• The yen pairs generally have a positive bias, but movement so far is nothing to write home about.

• The euro remains on the back foot however.

Coming up today: 

• Today we UK construction PMI at 09.30 with a small drop expected.
• European unemployment rates follow at 10.00.

Trade Idea: 

• Gold has risen steadily since the dollar’s rate prospects became less certain. However, the precious metal can be a fickle friend and rapid advances can often lead to short term reversals.

• A good way to play this is a LOWER trade predicting that gold closes below $1150 in 7 days time for a potential return of 182%.

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