Skittish, would be one word to describe markets at the moment. Ugly, would be a more accurate description however. The benchmark S&P 500 recovered from over-sold territory this week, to put the index back above the 100 period moving average that has acted as support for much of this bull rally. Equities remain within reach…
The US dollar came under renewed pressure this week, but the Greenback isn’t dead yet. US dollar weekly chart As the daily chart above indicates, the US dollar index looks set for a negative week ahead of Friday’s Non-Farm Payrolls, but this merely brings the trend back to the 14 period moving average. The April…
While the latest twists and turns of the FIFA corruptions scandal have been an interesting distraction for market traders this week, the ongoing Greek drama has continued its own exciting storyline. The euro enjoyed strong counter trend gains this Wednesday and Thursday as hopes were raised for a deal between Greece and its creditors. EUR/USD…
Seven days on from the UK election and markets have had ample time to reflect on one of the most dramatic election results in British history. The British pound started to rally late Thursday evening as the first exit polls trickled through and continued to advance through Friday and Monday. GBP/USD Daily Chart The GBP/USD…
One of the more consistent stock market adages has been the advice to ‘Sell in May’. The general idea is that stock markets perform badly during the summer months and that you’d be better off staying away until the winter. The effect is linked to the ‘Halloween’ effect which proposes that stock markets perform best…
With less than a week until the polls open, the 2015 UK General Election is likely to be one of the tightest elections in living memory. In 2010, the Conservative reached over the 326 seat threshold (more than half the house) with the help of the Lib-Dems in a coalition. This time around however, not…
As London traders bask in the mini spring heat wave, financial markets are also enjoying a little quiet. The S&P 500 is still banging on the door of the record highs set earlier in the year, but there is no sense of urgency right now. S&P 500 Weekly chart The same can be said of…
For the last nine months, there has really only been one way to bet in foreign exchange markets and that is to follow the dollar’s relentless push higher. Since the middle of June, the dollar has risen by 22% against a basket of currencies. This week we’ve seen a reversal of this momentum with three…
As we enter the final month of campaigning for the UK general election, the British pound is threatening to fall to its lowest levels since 2009, and on Thursday made its lowest daily close of 2015. GBP/ USD Daily Chart The latest betting odds based on the polls imply an 85% chance of a hung…
In the UK, the Budget took centre stage and garnered all the front page headlines, but in reality this was a mere sideshow to last month’s US FOMC statement. The US dollar plunged on the back of the statement, propelling most other currencies higher. Why? The Federal Reserve removed the word “patient” from its statement…
