FX Spread Betting: GBP / USD Falls on Speculation of Further BoE Easing
|
|
|
|
|
|
The regular trading review of the main UK, US and European markets, plus a quick look at the commodities and forex markets.
For today's report see Financial Trading Review.
|
Sponsored by
ETX Capital
|
Financial Trading Review - 07 February 2012
|
UK Trading Review
UK markets finished mostly lower yesterday, with the FTSE 100 index ending its four-day winning streak, as Greek debt negotiations continued without resolution, increasing concerns about the Eurozone debt crisis.
French Connection Group plummeted 12.1%, after it reported disappointing Christmas sales data and announced that its full-year pretax profit would be lower than market expectations.
Miners, Glencore International and Xstrata dropped 4.5% and 1.7%, respectively, amid speculations that the merger between the two companies would face regulatory obstacles in Europe.
Vedanta Resources, Antofagasta, Rio Tinto and Fresnillo declined between 1.8% and 3.1%, tracking a drop in base metal prices.
Vodafone gained 1.6% after it abandoned plans to merge its Greek operations with Largo Ltd.
Randgold Resources climbed 2.2%, after the company reported a surge in its fourth-quarter earnings.
FTSE 100 shed 0.2%, to close at 5,892.2, while FTSE 250 rose marginally to 11,237.7.
European Trading Review
European markets closed in the negative territory yesterday, as investors remained concerned about Greece’s ability to reach an agreement with its international creditors on the details of a debt-swap agreement.
Financial stocks, Credit Agricole, Deutsche Bank and BNP Paribas fell between 0.6% and 2.7%, as risk aversion increased among investors.
Julius Baer Group slid 3.8%, after the company reported a 27% decline in its full- year profit.
Deutsche Post eased 2.4%, after Macquarie downgraded the stock to “Neutral” from “Outperform”.
Air France-KLM dropped 4.1%, after the company’s labour unions went on strike.
Vestas Wind Systems sank 7.7%, after ING Groep trimmed its price estimate on the stock.
FTSEurofirst 300 index declined 0.1% to 1,075.2. German DAX Xetra 30 closed marginally lower to end at 6,764.8. French CAC-40 dropped 0.7% to 3,405.3.
US Trading Review
US markets closed lower yesterday, as investors remained concerned, amid reports that Greek leaders had failed to reach an agreement over austerity measures demanded by the country’s international creditors to secure the second bailout.
Medco Health Solutions and Express Scripts plummeted 8.1% and 4.6%, respectively, amid speculation that the Federal Trade Commission would stop their merger.
Medicare provider, Humana, slid 5.4%, as it forecasted profits for 2012 below market expectations.
Lazard dropped 4.2%, as it reported a decline in its fourth-quarter profit on the back of a slump in its advisory business.
Home builders KB Home, Weyerhaeuser, Lennar and Toll Brothers declined between 2.4% and 3.5%, as a broker downgraded these stocks amid concerns over their valuation.
DJIA edged down 0.1%, to settle at 12,845.1. NASDAQ slid 0.1%, to close at 2,902.0. S&P 500 slipped marginally to settle at 1,344.3.
Forex Trading Review
At 0400 BST today, the GBP is trading marginally lower against the USD at $1.5807, 0.1% higher against the EUR at €1.2066, and 0.2% higher against the JPY at ¥121.25.
The EUR is trading 0.1% lower against the USD at $1.3101, ahead of the Greek Prime Minister Lucas Papademos’ discussion with the leaders of three political parties on measures to curb the country’s debt.
The GBP / USD is trading lower amid speculation that the Bank of England would keep its interest rates unchanged but expand its bond purchase program at its meeting this week.
The EUR is trading marginally higher against the JPY at ¥100.48, after data showed that Japan carried out stealth intervention in the markets five times in the final quarter of 2011 to shield exporters’ earnings from the impact of the JPY gains.
Yesterday, the EUR closed lower against the USD, amid concerns about the European sovereign debt crisis. This came as the leaders of Greece’s main political parties failed to reach an agreement on further austerity measures that would allow the country to receive a second bailout from international creditors.
The GBP ended higher against the EUR after the European leaders told the Greek Finance Minister Evangelos Venizelos on the weekend that an increase in the bailout package was not forthcoming.
Commodities Trading Review
In Asia, crude oil for March delivery is trading marginally lower at $96.87 per barrel.
Yesterday, crude oil for March delivery dropped 1.0% or 93 cents to end at $96.91 per barrel. This came as the dollar gained against the euro, decreasing the demand for commodities as an alternative investment.
Crude oil lost value after reports stated that supplies in the US has increased for the past three weeks at a key delivery point in the Midwest.
Gold for immediate delivery is trading marginally higher today at $1720.70 per ounce.
Gold for April delivery declined 0.9% or $15.40 to close at $1,724.90 per ounce yesterday. This came as the dollar strengthened against the major currencies, lowering the demand for the yellow metal as an alternative investment.
Financial Trading News
For more daily views, news and analysis of the markets also see:
|
The above comments do not constitute investment advice and neither ETX Capital nor Clean Financial accept any responsibility for any use that may be made of them. Any prices or data are indicative and subject to change without notice; its accuracy is not guaranteed and should not be relied on.
ETX Capital »
"With ETX Capital you get all the normal
advantages of Spread Betting plus..." » read
ETX Capital review.
|
Risk Warning: Financial spread bets and CFDs are leveraged products and it is possible for losses to exceed deposits. Financial spread betting and CFD trading are not suitable for everyone so please seek advice if you do not understand the risks.
Article provided / approved by ETX Capital which is the trading name of Monecor (London) Limited, company number 00851820. Monecor (London) Ltd is authorised and regulated by the Financial Services Authority, registration number 124721.
'FX Spread Betting: GBP / USD Falls on Speculation of Further BoE Easing' edited by ETX Capital, updated 07-Feb-12
Related Articles:
French CAC 40 Futures Rise as Lafarge Announces Joint Venture, updated 09-Jan-13
French CAC 40 futures are trading higher after Lafarge announced that it had forged a joint venture in Mexico with Elementia, to combine their cement assets. Elementia is...read article: French CAC 40 Futures Rise as Lafarge Announces Joint Venture.
EUR/JPY Spread Betting Market Rises on Japanese Stimulus Speculation, updated 08-Jan-13
The EUR/JPY spread betting pair is trading 0.3% higher at ¥114.88, amid speculation Japan's government would announce further stimulus. The Eurozone jobless rate is expected to rise to...read article: EUR/JPY Spread Betting Market Rises on Japanese Stimulus Speculation.
S&P 500 Spread Betting Market Hit 5 Year High on Jobs Report, updated 07-Jan-13
US markets ended higher on Friday, with the S&P 500 index closing at a five-year high. This came after a key jobs report showed employers kept up a steady pace of hiring workers in...read article: S&P 500 Spread Betting Market Hit 5 Year High on Jobs Report.
GBP/USD Spread Betting Market Slips on Contracting Construction PMI Data, updated 04-Jan-13
The GBP closed lower against the USD after UK construction PMI dropped unexpectedly to a reading of 48.7, marking its fastest pace of contraction in...read article: GBP/USD Spread Betting Market Slips on Contracting Construction PMI Data.
Index Spread Trading Markets Surge on Fiscal Cliff Deal, updated 03-Jan-13
US index markets ended sharply higher yesterday, after US lawmakers reached a last-minute deal to avert the fiscal cliff of automatic tax increases and...read article: Index Spread Trading Markets Surge on Fiscal Cliff Deal.
US Stock Market Spread Betting: Facebook Rallies on Broker Upgrade, updated 02-Jan-13
In US stock market spread betting, Facebook rallied 2.7%, as the Bank of Montreal upgraded its rating on the stock to 'Outperform' from 'Underperform'. Apple gained 4.4% after...read article: US Stock Market Spread Betting: Facebook Rallies on Broker Upgrade.
EUR/USD Spread Betting Market Rises as French Sentiment Improves, updated 28-Dec-12
The EUR closed higher against the USD, after a report indicated that an index of French household sentiment rose to 86.0 in December from 84.0 in November, marking the...read article: EUR/USD Spread Betting Market Rises as French Sentiment Improves.
FX Spread Betting: US Dollar Weakens as Congress Continue Fiscal Cliff Negatiations, updated 27-Dec-12
The USD is trading lower against most of its major counterparts, as President Barack Obama and US Congress return to Washington today to continue negotiations over...read article: FX Spread Betting: US Dollar Weakens as Congress Continue Fiscal Cliff Negatiations.
Crude Oil Futures See Gains on Fiscal Cliff Agreement Optimism, updated 19-Dec-12
Crude oil futures gained $0.73 amid optimism that the US lawmakers are getting closer to agreeing on budget reforms to avert the impending...read article: Crude Oil Futures See Gains on Fiscal Cliff Agreement Optimism.
Gold Spread Betting Market Rises After Liberal Democratic Party Win Japanese Elections, updated 18-Dec-12
The gold spread betting market traded higher on rising expectations that the Bank of Japan would use more monetary stimulus to weaken the yen after the Liberal Democratic Party won...read article: Gold Spread Betting Market Rises After Liberal Democratic Party Win Japanese Elections.
First Page << 1 2 3 4 5 6 7 8 9 10 11 12 >> Last Page
Financial Trading Review Index - an index of financial trading reviews, with each review covering the forex and commodities markets as well as the main US and European markets.
|
|
Q) Average Trading Results?
A) Get free trading tips, offers, price updates, important news and more!
|
|
