Thank you for signing up. 

We've sent you an email. Please click on the link to verify your address.

Win big with FREE Tips from our experts

Get our insider tips mailed direct

No spam ever. Unsubscribe in one click. By submitting your email address, you indicate your consent to receiving email marketing messages from us.

Market Comment - European equities set to slump on the open

European equities are set to slump on the open as yesterday’s rout continues. 

Although lower oil prices should be a positive cue for pretty much every other sector other than energy, it’s the persistent weakness amongst the energy shares that’s overshadowing any benefits and dragging down the major indices.
 
The geopolitical games being played out in the oil market at the moment are stirring up too much uncertainty and having unintended negative consequences right across the asset spectrum that could be the ruin of many a traders Christmas. Equities have had a nice bounce since mid-October so traders will be forgiven for booking profits as we come to year end.
 
Finally, plunging oil prices started to make a few players in the energy complex uncomfortable as they wonder if a surging US economy is strong enough to pull the rest of the world out of a slowdown trap. Yesterday, energy stocks led the sell off with Dow Jones losing 93 points to 17,866 and still under pressure in overnight trading.
 
The much talked about long term loans promised by the ECB to boost stimulus, could prove insufficient according to a survey done by Bloomberg. Investors realized that President Mario Draghi is probably having a hard time convincing the Germans that despite the rhetoric, inaction can only buy limited time. The EUR/USD gained back 35 pips to 1.2317 but not before reaching another recent low at 1.2247.
 
It takes a brave soul to play ‘catching a falling knife’ as the WTI crude prices posted another sharp tumble of $2.5 to $63.01 a barrel. Especially when it has been reported in the media lately about hedge funds and money managers throwing in the towel after betting massively on rising prices in the recent years.
 
During the last three weeks it seems that $1200.00 level was the obstacle to overcome in gold. Any breakout on either side was short lived and yesterday was no different with the precious metal gaining back $12.4 to $1202.9 on fresh speculation the world will keep pumping cash to spur growth.


Upcoming Events

Latest Offers

Sport Offers (46)Casino Offers (73)

Tips & Betting Advice

Kick off time:

27 April 2017
28 April 2017
30 April 2017

Share this with your friends

To:
From:
Your comments:

Market Comment - European equities set to slump on the open

European equities are set to slump on the open as yesterday’s rout continues. 

Read more »

You have unread messages

You have unread messages