FTSE and Dow Indices Trading in Tight Ranges
Please find below the Fixed Odds report from David Evans, market analyst at BetOnMarkets.
Equities are once again dead in the water with no meaningful moves in either direction on all the world’s major stock markets.
Markets have gone from extreme volatility to dead calm this week.
The FTSE’s weekly trading range was just 135, excluding Christmas, that is the lowest range since May 2008.
Incredibly, you have to go back as far as October 2007 to find a weekly trading range as tight as this one for the Dow Jones (again excluding Christmas).
In addition, the New York Stock Exchange recorded its lowest volume excluding holiday sessions twice this week. It’s not as though the bad news has stopped, it’s just become more manageable, almost predictable.
FX markets have offered more action though with the pound reversing recent gains made against the euro and dollar.
Recent data showed that 1 in 10 of the 10 million UK households are in negative equity. To put that in perspective though, 3 in 10 of the 50 million US households are in negative equity.
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