Free Trade Ideas

Welcome to Friday’s trade! It’s set to be an active day on Wall Street as traders evaluate two key market drivers: US Retail Sales and the Trump/Putin Summit. At press time, the American stock indices are trading flat. The biggest mover has been the NASDAQ, which is off ¾% in early trade. We could be witnessing the calm before the storm.
During the pre-cash open, US Retail Sales posted a downside miss. Retail Sales for July came in at 0.5%, below expectations of 0.6%, and well below June’s 0.9%. Core Retail Sales posted a 0.3% figure, in line with expectations (0.3%), but falling dramatically from the previous number (0.8%). In short: consumption is beginning to lag as consumers brace for uncertain economic times.
Aside from the economic data, the big news today is the historic Russia/US Summit to take place in Alaska. President Trump and President Putin are scheduled to meet in person later today at a secure location in Alaska. A Russia/Ukraine peace deal will be on the market’s mind as the weekend break approaches. What would such an agreement mean to the markets? A likely scenario is falling commodity prices and a risk-asset rally. We’ll cover this in depth at the US-Session Live Stream (1:00 PM EST).
Last Friday, we posted a Trade Idea facing the FTSE100 (UK100). Here’s an update to that key support level:
Weekly 38% Fibonacci Retracement, 9014.3
Check out our Key Levels for more information on this Trade Idea.
That’s all for now; we’ll see you at 1:00 PM EST!