Indices Spread Betting

Indices Spread Betting

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A weekly review of the markets, supplied and sponsored by Spreadex.

For this week's review see Spread Betting Weekly.

Weekly Market Review: 7 Sep 2009

Indices

A rally on Friday was not enough to prevent only the second weekly decline in eight weeks. The Dow and the S&P both gained just over 1% on Friday but finished down over 1% on the week at 9441 and 1016.4 respectively.

The FTSE also traded lower on the week, finishing 1.5% off at 4851.7. Some positive jobs data was not enough to allay fears of a top to the rally, but markets have started this week on a strong footing on Cadbury takeover talks.

Commodities

Gold dominated the headlines on the commodities front with a spectacular $39 rally in the week, coming within 50c of breaching the $1000 mark. It closed up 4.1% on the week at $995.4.

Silver outshone its fellow precious metal though with a 10% surge on the week taking it to $16.25, its highest close in over a year.

Crude had a poor week, slipping nearly 9% to $66.82 a barrel.

Forex

EUR/USD continues to trade in a very tight range between $1.4200 and $1.4350 and finished the week practically unchanged at $1.4314.

Cable meanwhile found support once again around $1.62 and finished the week 2.3% higher at $1.6412. As a result Sterling gained marginally against the Euro, up 0.7% to €1.146.

The Week Ahead

The week starts quietly with the Labor Day holiday in the States, but volume and activity are expected to pick up from Tuesday.

It's a very quiet week though on the earnings and economic announcements front - Industrial and Manufacturing Production numbers out of the UK on Tuesday, the UK MPC rate announcement on Thursday and US Wholesale Inventories on Friday the key ones to watch out for.

The above comments do not constitute investment advice and neither Spreadex nor Clean Financial accept any responsibility for any use that may be made of them.

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Article provided / approved by Spreadex Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 190941.

'Indices Spread Betting' edited by DB, updated 07-Sep-09

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