Please find below the Fixed Odds report from David Evans, market analyst at BetOnMarkets.

Equities are making small gains today, though most world markets are yet to extend beyond the week’s trading range.

There appears to be a standoff between those who believe higher oil prices and the prospect of higher interest rates by year end are indicators of the worst being over.

On the other hand the pessimists believe that growth will continue to falter and higher oil prices will bring the stagflation monster out of hiding.

The optimists have scored a point today with US jobs data topping analysts’ estimates and retails sales rising for the first time in three months. However it will take a meaningful breakout of the recent trading range before it can be said that either the bulls or the bears have got the upper hand.

Despite being relatively old news, today’s strength in sterling has been attributed to the NIESR declaration the British recession may already over.

The pound has recovered more of the ground lost last week against the dollar and has continued to make multi month highs against the euro and Japanese Yen.

Sterling has been one of the strongest currencies over the last month, but there is still a long way to go if the pound is to reach pre-Northern Rock levels from almost two years ago.

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.