The Financial Fixed Odds update from David Evans, Market Analyst, BetOnMarkets.

Forex traders appear to be keeping their powder dry this morning.

The US dollar pairs are quiet and virtually unmoved with the exception of the New Zealand Dollar/US Dollar spread which is the morning’s top faller. The yen is slightly stronger indicating a general lack of appetite for risk taking.

Unlike yesterday, there is some meaty economic news items to chew on though. The highlights include the UK CBI realised sales, an important barometer of the strength of the UK economy. Later on we have the US consumer confidence numbers.

At 14.00 we also have the release of the latest official house price date (Case-Schiller). Analysts are forecasting the first positive year on year figures since February 2007.

With the US housing market at the epicentre of credit crisis, a positive number could spark another wave of optimism across forex and stock markets

How Long will the Stock Market Rally Last?

Despite the ongoing problems in Greece, world stock markets have continued to push higher, or at the very least hold their ground.

This is best seen in the Nasdaq 100 – home of tech giants such as Apple.

The Nasdaq has managed an incredible 51 trading days above it’s 10 period moving average. As Rob Hannah points out, this is unprecedented with the 2nd longest period being 47 days back in 1989.

What happens when the rally finally sags?

Eventually the enthusiasm will wane and the Nasdaq 100 will close below its 10 period average, but that could just be a pause for breath.

According to research from Hanna, similar long winning runs often result in the market going on to push ever higher in the following weeks.

Also see spread betting on a stock market index.

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