Escalating tension between the United States and Iran is starting to play on the markets, Asian markets have traded lower, albeit off their lows in late trade and European markets are called to open lower. The Hang Seng is lower by 161 points whilst the Nikkei225 is 204 points lower currently.
Opening calls for the FTSE and DAX see those markets lower by 21 and 48 points respectively as I write. DOW futures are about 50 pips off yesterdays closing levels but holding up well as other markets show more reaction.
GOLD traded up to 1411 in the early hours of the morning, before trading back below the 1400 line. A bit late to the party but I have sold GOLD at 1394.50, stop at 1405, minimal risk. Any increase in tension in the Middle East may see a further flight to quality and this will need to be monitored.
Flash Manufacturing and Services data from France and Germany will present the early direction for the markets this morning