Indices Spread Betting: FTSE Below Support Levels as Dow Consolidates
As suggested previously, a break below 5630 would open the doors for the FTSE 100 to test lower prices at 5588 - 5491. With a pivot low at 5573 the FTSE will need to climb above 5705 to ensure that the support of 5630 should hold.
The momentum index is still pointing lower and with [...]
Spread Betting: Financial Shares Struggle due to Irish Debt Crisis
The Spread Betting Markets - Last Week:
Ireland’s change of stance and acceptance of nearly 100 billion euros last week didn’t calm fears about debt contagion, nor did it stem the rise in costs of borrowing across the Eurozone’s peripheral economies.
S&P’s downgrade of Anglo Irish Bank to junk status along with a number of [...]
Indices Spread Betting: FTSE Struggles as Copper Price Falls
The FTSE 100 fell by as much as 1.2%, eradicating all of yesterday’s gains after a sell off in the miners weighed on the UK Index. With the US markets closed yesterday for Thanks Giving and entertaining a half session today, today’s session in Europe is likely to be extremely quiet with low volumes. It [...]
Forex Spread Betting: Euro Woes Continue With Single Currency Still Falling
The FTSE 100 posted gains of 0.3% on Thursday led by gains in property firms such as Capital Shopping Centres after the company announced bid interest from US peer Simon Group.
The euro however remained under pressure with investors still anxious over the Irish debt situation and unconvinced by the recently announced €15bn spending cut [...]
Myriad of Factors Leave Safe Havens as the Big Winners in the Financial Spread Betting Markets
Safe haven capital flows gave the US dollar its biggest one day rise since the 19th October, but this time there was a multitude of factors at play.
Concerns about rising tensions on the Korean peninsula boosted the dollar, while the euro tumbled over fears about sovereign contagion in the euro zone periphery as a string [...]
Spread Betting: Indices Rally, Are the Bullish Trends set to Continue?
The expected sell off materialised for the indices as weak momentum took over bullish price action. Last week’s trading saw the bears take control and drive indices lower to test support levels.
This week requires momentum to continue to the upside to test upside price targets but we may be facing a weak rally if [...]
Spread Betting: Markets Have Volatile Week as Ireland Eventually Accepts Bailout
The Spread Betting Markets - Last Week:
It was a choppy market last week with the debt problems rearing its head in the Eurozone. The focus this time is on Ireland, whose problems seems to be going from bad to worse. Ireland has been suffering as it agreed to underwrite banking assets - thus a [...]
European Spread Betting Indices Struggle as Irish Debt Still Weighs on Sentiment
European markets have slid back today with banks leading the decliners as the overhang of the Irish debt situation continues to weigh on sentiment. This morning’s surprise move by the Chinese to raise the reserve requirements on bank lending again this time by 50 basis points has also hit risk appetite, with miners also slipping [...]
Forex Markets Still Focussed on Irish Debt as Euro Remains Firmly to the Downside
Yesterday’s release of US CPI data continued to show that inflationary pressures remain benign, and thus lending support to the Fed’s assertion that the new stimulus measures are justified.
As a result the dollar has slid back from its recent highs, having also been given a helping hand by Boston Fed President Rosengren who has [...]
Forex Spread Betting: Ireland’s Refusal on Bailout Still Hitting Euro
The continued problems in Europe, as well as fears of further fiscal tightening measures in Asian economies, have continued to weigh on risk appetite and pushed the US dollar index above its 50 day moving average, and to its highest levels since the end of September.
Comments by Chinese Premier Wen Jiabao that China is [...]