Financial Spread Betting Update 6th June 2011

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

The markets are currently pretty flat this morning as traders continue to digest various events from around the globe, including the disappointing jobs report out of the US on Friday and the Greek debt restructuring.

The jobs report in particular is another indicator that shows that the so-called economic recovery is well off track. This brings the debate about another round of quantitative easing on the table although as we have already seen, this is just a band-aid solution that creates a short-term boost but makes matters worse in the long run.

We have been writing for several months that there is in fact no recovery underway aside from the spin put forward by politicians! Reality continues to show a different story and the prospect of a double dip recession increases on an almost daily basis.

This may sound negative but it is the reality and from a trader’s perspective will likely bring lots of opportunities over the coming months. Safe haven trades are already doing well, in particular treasurys, the Swiss Franc and Gold. For now stocks are holding up and are still in a long term uptrend but this may change soon.

This week’s financial spread betting update begins with:

The dollar’s recent bounce looks to be over at least for now and long-term weakness is back on track with the dollar being lower against most of the major currencies. Stocks also continue to look weak but the long term trends are still intact and these are currently up for stocks, mixed for commodities and down for the dollar..…continue reading by clicking here

Good trading

Phil Seaton

PS. Click here to find out more about our financial spread betting system

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