Financial spread betting update 25th July 2011

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

In early trading this morning the dollar has for the most part been lower, especially against the Swiss Franc, which has seen a large decline for the dollar to new all time lows. We wrote in this week’s update about safe haven demand for the Swiss Franc and Gold and so far both of these markets are higher, with gold once again making new all time highs.

During the past week stocks resumed the long-term uptrend having bounced nicely off short-term support levels early in the week but stocks are a bit lower this morning. The dollar resumed the long-term downtrend last week falling virtually across the board. Commodities have been mixed but have benefited from a weaker dollar and this has seen Gold hit new all time highs once again. Aside from Gold and Silver, commodities are mostly lower this morning.

Crude may be in focus this week with the prospect of $100 Crude in range this week. Whether resistance at $100 will hold remains to be seen. So far this morning crude has backed off that level and is moving lower. $100 will be the level to watch as an indicator to short term price action.

This week’s financial spread betting update begins with:

Risk appetite has returned to the markets after a week of volatility but some safe haven markets such as gold and the Swiss franc are still in demand, so investors still remain undecided on future price moves….…continue reading by clicking here

Good trading

Phil Seaton

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