Online Spread Trading: Trading Update

Online Spread Trading

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Spread Betting 22 May 2013

European equity markets look set to open marginally lower after what was another strong day for equities on Tuesday.

Despite there being no major economic data of note from the US, comments from Fed Presidents proved to be the market drivers once again.

This time QE was in favour, with St Louis Fed President James Bullard saying that the 'bond buying program should be maintained to boost growth', and so the Dow Jones rose by 42 points to 15,379.

Today, we should get a clearer idea of forward looking monetary policy when Fed Chairman Ben Bernanke testifies before Congress and the latest FOMC minutes are released shortly afterwards.

This may help us end the current speculation and let stock markets focus on the more traditional drivers.

Online Trading: Forex Markets

The risk-on mood in the currency arena was sparked by speculation that, despite rumours over a potential exit strategy, the pro-QE camp might still have the upper hand in the US.

As a result, CFD trading investors moved into the euro, pushing it 23 points higher to $1.2905, in what seems to be a cautiously optimistic approach.

Online Trading: Commodity Markets

With no clear evidence of rising oil demand even though we have entered the US driving season, the price of WTI crude oil fell for a second session yesterday, losing $0.96 to $95.90.

This came despite weakness in the US dollar, which usually offers support, as today's US Department of Energy inventories report is predicted to show another overall climb.

The ongoing rally in equities delivered a renewed blow for gold investors that were hopeful of seeing a meaningful rebound.

With so much pushing and pulling over the asset purchasing program, investors decided to discard the precious metal once again, with the market dropping $18.4 to $1,374.8.

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

'Online Spread Trading' edited by Simon Denham, updated 22-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.

Neither CleanFinancial.com nor any contributing company/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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