The FTSE 100, DAX 30 and CAC 40 have made a flat start to the day as European stocks play catch up with the action from US markets last night.

The main US market, the S&P 500 hit eight month highs yesterday, rising 45% from the lows in March. There was quite a slump in the final hour of trading, but this has been balanced by US index futures rallying in early trading.

All this backing and filling has put European markets back to the unchanged mark for the day.

We’ve had some wobbles over the past few days, but it’s interesting to note that even on the down days, stocks closed well above their lows of the day. Investors are certainly more edgy after markets have come so far so quickly, but there are still buyers out there.

Today’s main economic announcement of note is US GDP figures at 12.30 BST.

US Dollar weakens against several currencies

The Dollar is weak against the Pound and Euro this morning, with the GBP/USD perched just above the psychologically important $1.6500 level. Will it hold this level today for the first time in some while?

The biggest mover this morning is on the US Dollar/Canadian Dollar exchange rate which is often tied to price of oil.

The USD/CAD is down by almost half a percent today, putting it within touching distance of the year’s low of 1.0751. With Canadian GDP and US GDP due at 12.30 BST, the USD/CAD is today’s pair in play.

There could be a lot of action as the pair gets close to the 1.0751, especially if this happens around midday.

Fixed Odds Breakout Trades could be a good way to trade this.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

The FTSE, DAX and CAC have made a good start to the trading day, opening up around 0.75% to 1%. The main reason for this is a late surge of bullishness in US markets last night which, as it often does, leaves the European markets playing catch up.

Markets have fallen back a little though and the FTSE is sluggish compared to its European peers with volatility in Royal Dutch Shell shares not helping.

This news has been balanced by the latest figures from Nationwide showing that house prices rose by more than had been forecast during July.

The only other upper tier economic announcement due today is US unemployment claims which will be released at 12.30 BST.

Pound nears resistance

The Nationwide housing figures appear to have given investors confidence in the pound this morning. As a result Sterling is in play, rising 0.7% against the Dollar and the Yen.

GBP/ USD looks to be the pair in play as traders push it close to the 1.6500 level which has become an overhead resistance level over the last couple of months.

Since June, GBP/ USD has closed above the 1.6500 level four times, but managed to close above it again the next day just once.

Bear trades or Fixed Odds Double (Down) Trades could be a good way to play the pair as it approaches the resistance level once again.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

The FTSE, CAC and DAX look set for an interesting session today with all three European stock markets up over 0.5%. Just 45 minutes prior to the open it was looking like a negative start to the day, but buyers stepped in quickly to push stocks into the black.

This morning’s rally comes despite the Chinese stock market plunging the most in eight months.

With oil prices continuing to pull back, it is unlikely to be a quiet day on markets such as the FTSE.

Today we have UK Net lending to individuals data at 08.30 BST followed by US core durable goods orders at 12.30.

Crude oil inventories at 14.30 could cause some volatility in oil prices and commodity currencies such as the Canadian Dollar.

Foreign exchanges under pressure

In a swift reversal of yesterday’s early action, commodity currencies are being hit hardest this morning. The Australian Dollar is one of the biggest fallers against the US Dollar and Japanese Yen as traders run for the perceived safety of these currencies.

Outside of the commodity currencies, the EUR/ JPY is particularly under pressure this morning, but is making a recovery as stock markets get off to a more positive start. It could be a pivotal session today and the EUR/ JPY could be where the action is.

Also see FX Spread Betting.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

US markets managed to grind out another positive session last night and Asian markets were positive over night. The, FTSE, CAC and DAX were set for a flat open until two major European companies gave the bulls the shot in the arm they needed.

BP’s profits halved, but thanks to cost cutting measures, the numbers were well ahead of estimates. In Germany, Deusche Bank’s profits increase 68%, again ahead of estimates. With both companies making up a big percentage of the FTSE and DAX respectively, Tuesday has got off to a good start.

Today we have UK CBI realised sales at 10.00 BST then a gap until the latest US house prices are released at 13.00. US consumer confidence follows at 14.00 then we have a number of Federal Reserve speeches throughout the day which could impact on the Dollar.

AUD Vs JPY Fixed Odds

Commodity currencies are flying high this morning with the Norwegian Krone up 0.80% against the US Dollar, the Canadian Dollar up 0.50% and the Australian Dollar up by over 1%. The Australian Dollar is also performing strongly against the Japanese Yen, quickly approaching the psychologically important ¥80.00 level.

This makes the AUD/JPY today’s pair in play. It looks like momentum could be behind the pair which might make intraday trades such as Fixed Odds Double or Flash Bets are a way to trade this market. Double trades always return 100%.

Also see FX Spread Betting.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

After a relatively quiet session on Monday the FTSE, CAC and DAX have picked up the bullish baton and rallied strongly this morning. If it continues into the close it will extend the winning run on the FTSE to a record equalling 11 sessions.

Asian markets set the tone overnight with the Nikkei closing up more than 1.5%. With no top tier European economic data due this morning, markets are likely to hold these gains until US traders come on line around Midday. At 14.00 BST we have US new home sales which is today’s only economic announcement with an expected maximum impact.

Traders favour AUD

As we have often seen accompanying the recent stock market rally, traders are shunning the Dollar and Yen in early trading. Traders are in stead favouring other assets such as the Euro, Pound and in particular the Australian Dollar which is up 0.55% against the US Dollar in early trading this morning.

The Australian Dollar is benefiting from higher commodity prices and the country’s attractive interest rates of 3% is comparing favourably with 0.1% in Japan and near zero in the US.

The AUD is now within reach of 0.8264 which is the highest level recorded so far in 2009. One way of playing this might be a Fixed Odds One Touch trade which means you win if the level is touched at any time within the time frame you specify.

Also see FX Spread Betting.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

It has been a weak opening for the FTSE, CAC and DAX in early trading.

It was all going well until US markets closed last night. The Dow Jones had hit 9,000 for the first time since January and the tech heavy Nasdaq was running high after Apple obliterated earnings estimates.

However, just after the market close, Microsoft, Amazon and American Express all released profit figures that fell well short of expectations. Microsoft’s earnings ‘miss’ was felt in particular because the tech sector was playing such a prominent role in the recent rally.

The negative sentiment has caused overnight futures and Asian markets to reverse recent gains, but not enough to put major stock markets in the red for the week. Despite the wobble overnight, it still looks like the bulls will finish the week with the upper hand.

Today we have a raft of European manufacturing data followed by UK GDP numbers at 08.30 BST. At 14.30 BST we get more ‘fed talk’ with FOMC chairman Bernanke testifying and Treasury Secretary Geithner speaking.

EUR-USD Trading

Forex markets are relatively quiet this morning with honours even on the Yen cross rates. There have been some early, tentative moves on the dollar pairs with the pound and euro gaining against the greenback.

With a fair amount of European manufacturing data out this morning and some important speeches in the US this afternoon, this makes the EUR/USD today’s pair in play.

The pair has been in a meandering uptrend since April but has hit a wall of resistance a few times around the $1.4250 area. It has the potential to rise then fall back again.

A Fixed Odds Double Touch trade could be an interesting way to play this. A Double Touch trade pays out if both a higher and lower trigger are hit. A double touch trade predicting that the EUR/USD will hit $1.4250 and $1.4100 in the next 3 days could return over 300%.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

It’s another flat opening for European Indices this morning as the excitement over renewed bank profits start to subside.

Also see FTSE Spread Betting.

The US earnings season continues to roll on and so far the period has passed without any landmines going off. Unfortunately it appears that Goldman Sachs got the earnings season off to such a spectacular start that reactions to positive reports such as Apple have been muted.

Earnings season gives investors a chance to assess the overall profitability of US stocks and as European stock markets usually follow the American lead, the results can have global implications.

The so called Big Mac indicator will be put to test today with McDonald’s releasing their results before the US open. After the close of US markets we have results from other another global behemoth, Microsoft.

At 08.30 London time we have UK retail sales followed by US unemployment claims at 12.30. The afternoon brings US existing home sales at 14.00 and a Bank of Canada monetary policy report at 14.30.

AUD/JPY Trading

The Yen is being hit hard in early trading as investors look elsewhere for better returns.

The biggest moves have been on the GBP/JPY, EUR/JPY and the AUD/ JPY in particular. Investors are looking particularly attracted by the higher yields available with Australian securities.

This makes the AUD/JPY today’s pair-in-play. Currently trading around ¥77.20, the AUD/JPY has recently had a habit of reversing gains made in early trading. A way to play this might be a Double Trade predicting that AUD/JPY will fall today. Double Trades always return 100% if correct.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

It’s been a flat opening for the FTSE 100, CAC 40 and DAX 30 as the bulls and bears continue to trade punches.

There was excitement after the close of US markets last night as Apple smashed its earnings estimates. Unfortunately this excitement has proven to be short lived and there has been a steady decline in optimism overnight.

Investors didn’t get anything too bullish from Fed chairman Ben Bernanke. Other company announcements from those such as Yahoo were a muted affair.

After such a spectacular run over the last week, a bout of profit taking or buying fatigue is natural.

At 08.30 GMT today we have the release of the minutes from the last MPC meeting, followed by Canadian retail sales at 12.30, then at 14.00, Fed Chairman Bernanke continues his testimony.

Aside from a number of middle tier economic announcements, these will be today’s main market movers today.

Trading Sterling/Dollar

The pound is getting hammered in early trading, most notably against the dollar. Investors are taking fright at the size of the UK debt mountain and news that up to 9% of tax revenue could go to debt repayments in the next 5 years.

Money is flowing back into the perceived safety of the US dollar and Japanese Yen.

$1.6500 looks like it’s becoming a tricky level to surpass for the GBP/USD cross rate. A Fixed Odds Bear Trade predicting that GBP/USD will close below $1.6500 mark over the next few days could be a way to play this.

Also see FX Spread Betting.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

The FTSE, CAC and DAX opened up in mildly positive fashion.

US markets rallied late into the close to push the wider benchmark S&P 500 Index into positive territory for the year.

Other markets such as the FTSE still have some way to go to achieve this milestone, but at least it is a positive sign.

Yesterday in the US, earnings, data and sentiment all combined to push markets higher and that momentum carried over onto Japanese markets overnight.

Today’s market moving events include UK Public Sector Net Borrowing at 08.30 GMT. This is followed by a rate statement from the Bank of Canada at 13.00 GMT where rates are expected to stay unchanged at 0.25%. Finally, Fed Chairman Ben Bernanke speaks at 14.00 GMT.

Aside from this, we have some major US companies releasing their latest profit numbers.

Before the open of US markets, we have Caterpillar and Coca Cola and after the bell with have statements from Apple, Starbucks and Yahoo amongst others. Earnings from these companies could have a major impact on the Dow Jones from Midday.

If economic data flow remains positive and US companies continue to surprise to the upside with their profits, there could be fireworks today.

GBP/USD FX

In the FX markets yesterday there was a flight from safety with the dollar and yen getting hammered. Today there’s been a partial reversal as traders book sizeable gains from yesterday.

One of the biggest reversals has been on the GBP/USD which has dropped over 0.5% in early trading. With UK public sector net borrow due at 08.30 GMT, this makes the GBP/USD today’s pair in play.

The $1.6500 appears to be acting as an overhead resistance level with the GBP/USD struggling to make much headway above this.

A Financial Fixed Odds break-out trade might be a good way to play this with the barriers set to around $1.6250 and $1.6750 over the next 3 days.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.

Asian markets were strong overnight and consequently, the FTSE, CAC and DAX have started the week in positive territory.

Although the bankruptcy of CIT bank in the US rumbles on, there were no significantly negative news stories over the weekend to dent the bull’s confidence.

Commodities were strong in the Asian session, though miners and crude oil stocks have pared gains in the first hour of the European session.

Fixed-Odds Trading

This week, money is continuing to flow away from the perceived safety of the US dollar and Japanese yen and into the pound, euro and Australian dollar.

Oil continues to act as a great barometer of economic sentiment and the recovery in crude oil prices has helped exporting countries such as Canada.

There is little to chew on today on the economic news front, but there are some middle tier economic announcements affecting the Canadian dollar are 12.30 GMT. With oil prices recovering, this puts the USD/CAD as today’s pair in play.

The Canadian dollar’s recovery against the dollar has been more violent than similar moves in the euro and pound, thanks largely due to the accompanying rise in oil prices. This multiplier effect has the potential to push the USD/CAD ever closer to the 1.1000 level.

A Financial Fixed Odds One Touch trade around the 1.1000 level or below over the next few days could be a good way to play this.

Also see FX Spread Betting.

This website content does not constitute investment advice. No individual contributor, contributing company nor Online-Spread-Betting.com accept any responsibility for any use that may be made of the content.