Financial spread betting update 4th July 2011

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

This week is a shortened trading week due to the July 4th Independence Day holiday in the US and US markets are therefore officially closed. Spread betting firms however are still quoting prices on many markets, particularly stock indexes. Forex markets are operating as normal but most commodity markets are closed.

Due to the markets being mostly closed, volume will be thin and consequently there is not much happening in the markets this morning. What action there is has seen the dollar mostly lower and stocks marginally lower. We will not likely therefore see much action in the markets today.

On a seasonal basis the next 2 weeks are often quite bullish for stocks so if that pattern continues this year then on the basis of the prevailing inverse relationship between stocks and the dollar we may see continued dollar weakness. Whether we see a continuation higher towards the highs for the year for the major currencies and for stock indexes remains to be seen.

This week’s financial spread betting update begins with:

The past week has seen bullish action from stocks, bucking short-term weakness and a renewal of US dollar weakness. The markets are seemingly trading in a schizophrenic style, with extreme moves in either direction following each other. Long-term direction currently remains unclear for most markets..…continue reading by clicking here

Good trading

Phil Seaton

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