This week’s financial spread betting update is now available and can be read by clicking here.
Much of the events in the markets of late have been about the ever-declining dollar, which last week fell to new 16 month lows. In today’s trading the dollar has recouped some of the recent losses, based largely on a decline in the Euro due to further Greek concerns. The Yen is stronger this morning and the riskier commodity-based currencies of New Zealand, Canada and Australia are all lower.
We have also this morning seen a new all time high for Gold, a new 31 year high for Silver, but stocks are lower. As we wrote in this week’s update, the possibility of a double top for the stock markets is there but does require confirmation by a break lower beneath the pivot low between the 2 recent highs. For now the double top is just a potential top and is not confirmed. The long term trend for US indexes is still very much up.
This week’s financial spread betting update begins with:
We wrote last week about the inverse relationship between stocks and the dollar and the fact that the ever declining dollar is not benefiting stock indexes at present and this has continued to be the case this week with the dollar index falling to new 16 month lows, but stock indexes still being unable to push higher..…continue reading by clicking here