Financial Markets: A Daily Trading Update

Financial Markets

The daily spread betting update from Jonathan Sudaria of Financial Spreads.

Spread Betting 20 May 2013

European stocks are set to open marginally lower this morning, despite strong gains being seen across Asia.

Life is getting harder for market commentators as there are only a finite number of ways of writing the same piece of news.

In case you weren't aware of the continuing theme in 2013, the US saw some improving data, more companies released better-than-expected earnings, and we are at yet more all-time highs.

The problem is that as long as economic data continues to improve and stimulus measures are kept in tact, nothing is likely to change unless investors get nervous.

This time around it was US consumer confidence and future economic activity sentiment that gave online spread trading markets the boost, both of which are at five year highs.

Until something changes, it seems that most of the signs are pointing in one direction.

Forex Markets

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For the latest updates please see Daily Forex Analysis and Trading Updates.

Commodity Markets

Gold closed at $1,354.6 in the last session and is down by around 13% for the first quarter due to a large sell-off in exchange traded products.

This has outweighed demand from bargain hunters in Asia and China that have been locked in a tug-of-war battle with the bears.

This morning, the metal is heading south for an eighth straight session, to its weakest level in a month, on fears that the Fed will reduce their monetary stimulus measures.

This would dent gold's appeal as a hedge against inflation which such easing measures have been known to stoke.

With equity markets hitting record highs, the temptation for investors to be a part of the wave has caused them to dump gold in favour of riskier opportunities.

Having said that, many would argue that buying into the gold market at this point could be riskier still.

Brent crude for June delivery closed at $104.56 in the last session and was approaching the $105 mark earlier this morning on upbeat economic data and as equity markets continue to impress.

Asian shares are on the up after encouragement from US equities, with sentiment in the world's largest economy hitting a six-year high.

Despite this morning's moves, prices have been weighed on by this year's projected weaker demand as well as increasing stockpiles.

Under no circumstances are the comments and the information provided herein to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice.

Neither CleanFinancial.com nor Financial Spreads or any contributing author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

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Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading 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

Article provided / approved by Financial Spreads which is a trading name of London Capital Group Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 182110

'Financial Markets' edited by Simon Denham, updated 20-May-13

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Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading 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.

The contents on CleanFinancial.com are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.

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