Crude Oil Spread Betting Market Falls as US Discusses Use of Reserves
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UK Market Comment, 15 March 2012
Closing comments from Yusuf Heusen, Sales Trader, IG Index:
Heading into the close, the FTSE looks set to end 20 points lower, after a very uneventful session for global markets.
The overriding feature of today has been the quiet. European markets opened quietly, as did US markets, with only limited moves in either direction, and even the raft of US economic data failed to provide much excitement.
As March wears on, it seem as if this month will be quite similar to February, with a short burst of activity around Non Farm Payrolls followed by an extended period of calm.
Bullish upward momentum has fizzled out over the past couple of days, however this does not mean that the bears are in control. There is a lack of negative news, meaning that the usual safe havens remain out of favour.
Perhaps the most exciting part of the afternoon was the $3 drop in oil, after news emerged that the US had asked Britain for permission to release some of the oil stocks in the Strategic Petroleum Reserve. This came as US politicians begin to fret about high crude oil prices in an election year.
Apart from that, markets continue to search for elements that might have some real impact on sentiment, with the tedious waiting game looking likely to continue for some time yet.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting
Crude Oil, where to find free charts, live pricing, how to trade etc >> Crude Oil Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
IG Index » "With IG Index you get all the normal advantages of
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UK Market Comment, 14 March 2012
Closing comments from Will Hedden, Sales Trader, IG Index:
The FTSE has wilted as it heads into the close, and looks to end flat on the day, as the latest assault on 6000 falters like so many before it.
A reasonably strong performance from markets in the morning session has failed to hold during the afternoon, as European markets gave back most of their gains following a weak open for US indices.
Last night’s Fed meeting has remained the focus of interest. We have seen enthusiasm for the latest rally peter out as investors begin to mull over the disturbing possibility that the Fed might eventually step back from its active role in markets.
While the gradual weakening of indices throughout the day has been a point of interest, bigger moves have been seen in currency markets, where the US dollar is making its presence felt very clearly. The American currency has risen against many of its major counterparts including sterling, the euro, the yen and the Australian dollar.
In London, strength in the banking sector kept the index in the blue for most of the day. However, eventually a weaker mining sector was able to drag the FTSE lower, as raw material stocks also felt the impact of the almighty dollar.
Now that hopes of a more accommodative Fed are off the table for the time being, bulls will need to look elsewhere for real reasons to lift indices beyond their current levels.
How and where to spread bet on:
Dollar - Yen, where to find free charts, live pricing, how to trade etc >> Dollar - Yen Spread Betting
Australian Dollar - US Dollar, where to find free charts, live pricing, how to trade etc >> Australian Dollar - US Dollar Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
IG Index » "With IG Index you get all the normal advantages of
Spread Betting plus 8000 markets, narrow spreads, advanced charting,
24 hour spread betting ..." » read
IG Index review.
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'Crude Oil Spread Betting Market Falls as US Discusses Use of Reserves' edited by AG, updated 15-Mar-12
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