Financial Spread Betting Update

This week’s financial spread betting update is now available and can be read by clicking here.

The markets have begun the week on stronger footing and so far the dollar is lower and commodities are recovering some of their losses from last week. As we wrote in this week’s update, although many markets sustained heavy losses last week, Silver and oil in particular, the long-term trends remained largely unaffected. Gold has regained the $1500 level been as low as $1462 last week and the Euro is already higher by over 100 pips. The Aussie dollar, which started the recovery on Friday ahead of the other currencies, is also stronger this morning.

Stocks have also continued to gain after beginning the recovery on Friday and may now head back towards the highs of the year.

This week’s financial spread betting update begins with:

The past week has seen increased volatility across many markets, with a commodity sell-off being led by Silver and oil. We have also seen a dead cat bounce in the dollar index, which has moved higher for the first time in quite a while and also a move lower in stocks. The long term trend in most markets remains unaffected with the dollar remaining in a bear market and commodities overall still very much in a bull market..…continue reading by clicking here

Good trading

Phil Seaton

 

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