Forex Spread Betting: GBP/USD Rallies on Positive UK Retail Sales Data
In mid-morning trade it’s another positive start for shares in London.
The FTSE 100 index has pushed back above the 5900 mark this morning, continuing yesterday’s momentum from the positive US data.
Also helping sentiment today are renewed hopes that a deal is near for Greece.
The more sceptical traders are somewhat tired of the seemingly regular news of the ever-imminent bailout agreements, but regardless it does take some off the pressure off spread betting markets and allows other aspects to be focused on.
This morning we have seen somewhat surprisingly positive UK retail sales data but the main benefit here so far is being felt in the forex spread betting markets, with GBP/USD rallying to a one-week high.
Looking ahead to the US open at the moment we are forecasting a fairly flat start for the Dow Jones, at around the 12,900 level.
With the US shut on Monday for the Presidents’ Day holiday it could end up being a quiet session on Wall Street.
Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
Financial Market Comments from Rupert Osborne, Futures Dealer, IG Index.
The above comments do not constitute investment advice and Clean Financial accepts no responsibility for any use that may be made of them.
Content provided by IG Index which is Authorised and regulated by the Financial Services Authority. FSA Register number 114059.
1 comment
Where do you think the oil market will go to?
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