See all offers

GET OUR TOP TIPS

FOLLOW BETTINGPRO

Betting News

Market Comment Tuesday 17th July 2012

Visit Capital Spreads Save For Later
Related Articles
The saga continues and today will see the Governor of the BOE sit in front of MPs to discuss whether he played any part in the resignation of Bob Diamond but you can bet you bottom dollar that the focus of the questions are likely to be on something called Libor.  

One of the most talked about words of the day at least it takes the focus off the eurozone crisis, but unfortunately because the two are so intertwined they almost go hand in hand.  Barclays itself has suffered a 20% decline in its share price in the past couple of weeks since they owned up to their part in Libor fixing whereas other banking stocks have only declined in the single digit percentage points.  The silence of the other banks is almost deafening and why wouldn’t you want to keep quiet when you see what’s happened in such a short space of time at Barclays which is now rudderless as a result and has had its reputation more than just tarnished.  At some point the other banks implicated will be exposed and it will be very interesting to see if the pressure applied to them will lead to more heads rolling or whether those executives will have been saved by the Barclays fall guys.

Having spent all morning ahead of the open calling the FTSE higher by some 10-15 points we actually opened flat in the end and so are hovering around 5662 at the time of writing.  Lots of things for investors to get their teeth into today which is why we could easily see caution continue into the afternoon when the highlight of the day gets underway in the form of Ben Bernanke’s two day congressional testimony on the US economy.  This has the potential to move all markets later today as investors will be listening out closely for any sort of indication that QE3 is being considered.  With the raft of bad news on the economic data front already some bulls have been positioning themselves for this possibility which goes some way to explain how the markets have not been heading lower recently.

What is also very possible is an uptick in volatility over the next couple of days as traders may interpret his comments in different ways and so a move in one direction could well be proceeded by a sharp move in the other direction.

Before this event later this afternoon we get UK inflation numbers released this morning which are expected to remain at 2.8% year of year with a decline of -0.1% month on month.  Price rises have declined significantly in recent months but inflation still remains above the 2.0% target.  The BOE will be hoping for further declines in the months to come, but as they mention it is proving more “sticky” than they had hoped and with Brent crude still remaining around and above the $100 a barrel level, this stickiness might be around for some time to come.

The euro failed to make a new 2 year low yesterday despite the bears best efforts, managing to pare initial losses make modest gains.  The reversal in sentiment was spurred by dollar weakens as poor US retail sales data got the rumour mills turning for an imminent round of QE3 from the Fed.  This gave some support to the single currency which has filtered through into today with EUR/USD back at 1.2300.  The arch bears will be saying this is a good selling opportunity but few will want to commit to further shorts if this squeeze continues.

Gold edged lower on Monday shedding a mere $3.90 to close at $1588 despite suggestions of further easing from the Fed soon to be on the way.  Instead, it appears that the slowdown in China was the bigger story as concerns of reduced demand for materials saw weakness across the entire metals complex.

Crude oil futures saw another day of gains as escalating tensions with Iran and earlier reports of US naval fleets opening fire on another vessel fuelled bullish momentum but increased prospects for another round of QE, following weak US retail sales data, kept the dollar under pressure.  Crude oil for August added $1.33 to settle at $88.43 a barrel.
Visit Capital Spreads Read our Capital Spreads review Spread bet at Capital Spreads
Like Like

Deposit £10, Get £30, Bet with £40 £30 In Bonuses

Deposit £10, Get £20, Bet with £30 £20 In Bonuses

Deposit £200, Get £200, Bet with £400 Recommended £200 In Free Bets

Deposit £25, Get £25, Bet with £50 £25 In Bonuses

No deposit, Bet with £10, get free NowTV £10 n.d. In Bonuses
All Financial Betting News

Recent Market Comment Articles

  • European equities down on Monday 20 May

    European equities are set to open marginally lower this morning, despite strong gains being seen across Asia. Life is getting harder for market commentators – as there is a finite amount of ways of writing the same piece of news. In case you weren’t aware of the continuing theme in 2013, the US had...

  • Dow Jones gains another 60 points on Thursday

    European equities are set to open flat to marginally lower as the bulls take a short breather.  Despite the woeful data from Europe and the US yesterday, markets managed to muster enough momentum and twist logic enough to eek out another day of gains. Despite the stark evidence that all is not...

  • Gold investors continue to take a battering

    European equities are set to open flat to marginally lower as the bulls take a short breather.  Despite the woeful data from Europe and the US yesterday, markets managed to muster enough momentum and twist logic enough to eek out another day of gains. Despite the stark evidence that all is not...

  • Gold prices continue to fall

    European equities look set to start on a positive footing as US markets take back the reins of sentiment.  Despite weak economic data in Europe and the Feds Plosser calling for a tapering of bond purchases this summer, bullish momentum remained resilient and shrugged off any negative cues yest...

  • Dow Jones Industrial average closes down 25 points - Bettingpro.com

    European equities are set to open higher taking their cue from a positive Asian session.  Yesterday saw a choppy trading session in Europe and the US with trader’s indecision seeing the major indices ending marginally either side of the unchanged mark. Despite the pickup in Retail Sales in the...

  • American dollar strengthens as gold value falls

    European equities look set to open flat as traders wait for further cues.  Despite another set of all time high finishes in the US on Friday and the associated images of high fiving traders on the NYSE floor doing the rounds, their confidence hasn’t carried over to other regions. Asian markets...

  • Gold up as Dollar price falls on busy Wednesday

    European equities look set to open on a mixed footing, despite another successive bullish close in the US doing its best effort to drag markets higher. Asian markets are also trading mixed and traders are growing ever more uneasy about this rally, where one has to ignore the fundamentals and put yo...

  • Dow Jones and other world indices were given fresh impetus by German factory news

    European equities are set to open marginally higher as a strong finish in the US and a surge in Chinese trade growth is likely to keep the bulls ticking over. However, unlike previous rallies to all time highs, the bulls still appear a long way off from irrational exuberance. The last time the Dow ...

  • European equities set to open flat

    European equities are set to open flat as traders ponder how to trade today’s US jobs number.  With today’s main focus for markets the Non Farm Payrolls in the US, much debate surrounds how to trade the result. Following the surprise slump in March, traders will be looking to see if it was a o...

More Stories

Recent Articles

  • WTA Brussels 2013 order of play: Tuesday, May 21

    The WTA Brussels 2013 continues with its first round matches on Tuesday with Dominika Cibulkova and Kirsten Flipkens to take court today.  First up on court will be eighth seeded Chinese player Shuai Peng, who takes on Sofia Arvidsson in her opener. While Peng made it to the third round last ...

  • WTA Strasbourg 2013 order of play: Tuesday, May 21

    The first round action begins at the WTA Strasbourg 2013 on Tuesday after all seven matches were washed out on the first day due to rain. Both the top two seeds, Marion Bartoli and Tamira Paszek were to take court on Monday but will now be in action today. Top seeded Bartoli plays Camila Girogi in...

  • Brose, Bayern start semifinal showdown

    Brose Baskets and Bayern München face off in Game 1 of their semifinal series in the Basketball Bundesliga on Wednesday. Watch and bet on live streaming Brose Baskets v Bayern München Live at Top seed Brose bounced back from a Game 1 loss to eliminate Phoenix Hagen in four games in the quarterfina...

  • ATP Dusseldorf 2013 order of play: Tuesday, May 21

    The remaining four singles first round matches at the ATP Dusseldorf 2013 on Monday will be played on Tuesday with Viktor Troicki and Nikolay Davydenko to take court.  After Kazakh qualifier Evgeny Korolev takes on Dutchman Igor Sijsling, both of who did not feature in the Rome Masters last w...

  • ATP Nice 2013 order of play: Tuesday, May 21

    The remaining first round matches at the ATP Nice 2013 continue on Tuesday with sixth seeded Fabio Fognini to take court today.  After qualifiers Rogerio Dutra Silva and Sergiy Stakhovsky play each other in the first match of the day, it will be sixth seeded Fognini who takes court for his op...

  • NBA Eastern Conference Finals schedule

    Below is the complete schedule of the 2013 NBA Eastern Conference Finals between the Miami Heat and Indiana Pacers. This is a rematch of last year's Eastern Conference semifinals with Miami winning 4-2. The Heat went on to win the NBA title at the expense of the Oklahoma City Thunder. The top-rank...

  • Heat, Pacers face off in Eastern Conference finals

    The much-awaited Eastern Conference finals showdown between the Miami Heat and the Indiana Pacers will take place at the AmericanAirlines Arena Thursday morning. The top-ranked Heat reached the conference final for the third consecutive season after eliminating the Chicago Bulls 4-1 in the semifin...

  • Spurs seek 2-0 lead over Grizzlies

    The San Antonio Spurs taught the Memphis Grizzlies a neat lesson in their first ever appearance in the Western Conference finals. Tony Parker had another impressive performance to lead the second-ranked Spurs to a 105-83 rout of the fifth-seeded Grizzlies in Game 1 of their best-of-seven showdown ...

  • Forex Trading Robot for free

    FXpro launches FxPro Quant FXpro has just launched a new trading service that allows you to build forex trading robots. Called FxPro Quant, this trading tool allows you to develop and build Expert Advisors (EAs) using simple drag and drop technology—no programming experience required.   F...

More Stories

Tags

Share this with your friends

To:
From:
Your comments:

Market Comment Tuesday 17th July 2012

The saga continues and today will see the Governor of the BOE sit in front of MPs to discuss whether he played any part in the resignation of Bob Diamond but you can bet you bottom dollar that the focus of the questions are likely to be on something called Libor. 

Read more »

Claim your free bet

Bookmakers
Casinos
Poker Rooms
Bingo Rooms
Games

£10 no deposit bet

Click here to get £10 no deposit from Bet Victor Games

£88 free no deposit

Play at 888 today!

Betfred £5 no deposit

Get your hands on an exclusive Betfred £5 no deposit free bet via this link.

$10 free no deposit required

FullTilt is back and we've twisted their arms to give you $10 free no deposit required!

SuperCasino No Deposit Reqd

£10 no deposit use code SUPER10 here

Arbitrage Betting

Here's a bookie that loves arbs.

50 Free Spins at Ladbrokes

Use code MAXIMUMBONUS when you register at LadbrokesCasino. Get 50 Free Spins!

Watch Live Streaming Tennis

Watch live tennis for free when you sign-up to Bet365 > live streaming tennis

Streams About To Start!

Full Calendar

Popular Pages

Top Bonuses


© Bettingpro.com. All rights reserved.  |  RSS

Join the Bettingpro Community Today

Log In or Sign up

Facebook User?

You can use your facebook account to sign up with Live streaming sport.

Connect with facebook
Remember me.
Did you forget your password?

You Might Also Like