This week’s financial spread betting update is now available and can be read by clicking here.
It may be a quiet day for the markets today as US markets are closed for Presidents’ Day. There is activity however around the rest of world but not a great deal is happening so far this morning aside from continued strength in metals and energies. Silver, which following on from strength late last week has pushed higher again this morning to new 31 year highs. Silver is certainly the leader in the metals sector at present but there is strength across the board.
All 5 metals that we trade at LS Trader are all in a strong uptrend. Gold has also resumed strength following some short term weakness earlier in the month that will have caught a lot of people out, is now up to testing the $1400 level. A clear break and close above $1400 may open the door for another go at all time highs.
The energy sector is strong this morning with advances seen across the board, with Crude currently higher by around one dollar per barrel. We may yet see $100 Crude again later in the year.
This week’s financial spread betting update begins with:
Monday is Presidents’ Day in the US so the US markets are officially closed, making this coming week a shortened trading week. Stocks have continued higher but the dollar has weakened somewhat, resuming the longer term downtrend. Commodities are mostly higher, with the exception of grains, which have pulled back considerably. The trends remain up for stocks and commodities and down for the dollar….…continue reading by clicking here