Miners Trade Lower After Dollar Strength
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A quick commet on the spread betting markets, supplied and sponsored by Spreadex.
Spread Betting Comment - 2 October 09 - 8:30am
European markets will be feeling nervous this morning due to yesterday’s afternoon sell off in America and the overnight sell off in Asia.
There is some further anxiety ahead of today’s big payroll number in the US, which comes after recent ecconomic data has disappointed.
As a result, it’s unlikely we will be seeing investors buying into any morning weakness, as they hold off until this afternoon.
Miner’s are weak again as continued Dollar strength weakens underlying commodities, whilst Legal & General is one of the biggest fallers in the FTSE as Goldman Sachs removes them from their conviction buy list.
By Arifa Sheikh-Usmani
Spread Betting Comment - 1 October 09 - 8:25am
A lacklustre start to the new quarter, something which may come to epitomise this period as many traders see the FTSE ending the year at around these levels.
Although we have just experienced a record breaking quarter, the momentum seems to have slowed down as investors feel the stock market recovery is outpacing real economic recovery.
This was again underlined by yesterdays surprisingly weaker PMI and today’s IMF report that although economic recovery is under way, it is still rather fragile.
By Arifa Sheikh-Usmani
These comments do not constitute investment advice and neither Spreadex nor SpreadBets accept any responsibility for any use that may be made of them.
Article approved / provided by Spreadex which is authorised and regulated by the Financial Services Authority, register number 190941.
Spread Betting Comment - 30 September 09 - 8:30am
The FTSE has been very low on volume in the last couple of sessions, however I would expect volumes to pick up later in the afternoon once US GDP figures are published.
Markets will be cautiously awaiting these figures, given yesterday's weaker than expected consumer confidence numbers.
Marks & Spencer is one of the leading laggards this morning in the FTSE despite better than expected figures from the retailer. Investors seem to be taking some money off the table as the company warns that 2010 will still be a difficult year for the country.
By Arifa Sheikh-Usmani
Spread Betting Comment - 29 September 09 - 8:25am
Small cooling off in the FTSE today after yesterday’s gains, UK GDP figures and US consumer confidence will give the markets more direction later today.
Mortgage lending figures are also due out later which will give an indication as to whether credit is still as tight as before.
Traders will also be keeping a sharp eye on Cable especially as GDP comes out.
By Arifa Sheikh-Usmani
Spread Betting Comment - 29 September 09 - 7:25am
The FTSE looks set to open up 5 points this morning around 5170 after the week got of to a positive start yesterday with the market buoyed by the M&A stories emanating from the States a sign that people are finally putting their money where their mouth is.
Investors will be looking towards UK figures released this morning with Q2 GDP being of particular interest.
By Tom Salmon
These comments do not constitute investment advice and neither Spreadex nor SpreadBets accept any responsibility for any use that may be made of them.
Article approved / provided by Spreadex which is authorised and regulated by the Financial Services Authority, register number 190941.
"Miners Trade Lower After Dollar Strength" last update by Spreadex, 02-Oct-2009
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