Commodity prices have come into sharp focus this week as the likelihood of a Western intervention in Syria increases. As oil rockets higher on the prospect of further instability in the region, so too does gold as investors abandon equity markets and flock to the perceived safe haven of the yellow metal. In the UK traders will keep a close eye on Mark Carney today as he delivers a speech that may further clarify his forward guidance plans. Since his first timescale promise on rates we have seen a slew of positive data announcements that have seen Short Sterling dealers price in a quarter point rise by September next year. It would seem a difficult task for him to reiterate his previous outlook in the face of the improving economic backdrop – particularly as he is tasked with controlling inflation as well as encouraging growth. Cable traders have your wits about you… On the single stock front G4S trade lower despite delivering ‘organic revenue growth’ in H1 that JP Morgan read as a positive for the stock. News that the group will seek to raise new capital roughly equivalent to 10% of the outstanding shares in the company has capped gains in the short term. In the mining space Polymetal International are offered 7% lower as lower gold prices this year hit earnings and made the prospect of special dividends less likely. The stock has rallied 70% from its June lows but remains heavily down year to date. Internet gaming group 888 are 3% better bid after announcing strong performance in their core poker and casino businesses the drove a 7% rise in H1 revenues.Housing data from the US at 15:00 and Crude Inventories at 15:30 will likely make for the afternoon’s main talking point as QE speculation and commodity price volatility remain at the forefront of investors’ minds.