Today’s Market Outlook
| Monday, 18 August 2008 | ||||||||||
| Instrument |
Last
|
Support
|
Resistance
|
Intraday View
|
1 Week View
|
1 Month View
|
||||
| FTSE 100 |
5,454
|
5,375
|
5,500
|
 |
 |
 |
||||
| S&P 500 |
1,299
|
1,281
|
1,305
|
|
|
|
||||
| Gold ($) |
799
|
773
|
812
|
|
|
|
||||
| Crude Oil |
115.20
|
109.80
|
116.90
|
|
|
|
||||
| EUR / USD |
1.4746
|
1.4655
|
1.4820
|
|
|
|
||||
| GBP / USD |
1.8698
|
1.8575
|
1.8800
|
|
|
|
||||
| EUR / GBP |
0.7890
|
0.7850
|
0.7930
|
|
|
|
||||
| USD / JPY |
110.11
|
109.54
|
110.67
|
|
|
|
||||
|
||||||||||
You should be aware that online trading leveraged products on margin carries a high level of risk as you can lose all or more than your initial investment. It may not be suitable for all investors and you should ensure you fully understand the risks involved, seeking independent advice if necessary. This email is issued by Moneycorp Markets Limited who is authorised and regulated by the Financial Services Authority. It is made available to Hawkesfield & Co, existing and prospective customers of Moneycorp Markets Limited only and may not be copied or further distributed to other persons. The analysis is not held out as impartial investment research and may have been acted upon by persons connected with Moneycorp Markets Limited. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The market data is derived from independent sources believed to be reliable, however Moneycorp Markets Limited makes no guarantee of its accuracy or completeness and accepts no responsibility for any consequence of its use by recipients.
Watch for the U.S. dollar to continue to gain strength this week. According to the Commitment of Traders numbers released by the CFTC, more traders are actually long the USD than are short the USD. This is a huge turnaround, traders haven’t been net long the USD for some time. This shift is support signals a longer-term swing toward bullish USD momentum. If you reviewed the article here you will be aware of Goldman Sachs’ opinion.
This week is also a lighter economic news week, if you are looking for a rest from trading you will pleased with that, however, this lack of news may make the week another choppy one, reliant on oil prices and geo-political issues.
Share opened lower in London today with investors cautious ahead of the release of the Bank of England minutes Wednesday.
In the U.S. Friday, Wall Street ended the week higher as falling oil prices damped down inflation worries and the dollar continued to rally on mounting signs of a slowing global economy. The DJIA index advanced 43.97 points to close at 11,659.90. Separately, the S&P 500 index gained 5.27 points to finish at 1,298.20 and the Nasdaq composite index rose 1.15 points to 2,452.52.
