The Dow is making efforts to reach its April high, but the major companies are about to bring out the next quarterly figures. This means that many are looking to short the Dow below 11,258 with a stop and reverse above, particularly if the market continues to be impressed with company news. WorldSpreads offers a 1 point spread on the Dow currently at 10,956-10,957.
Financial markets remain swathed in uncertainty and yesterday’s ADP payroll figures from the US have done little to calm these fears. But equities keep working their way higher, spurred on by the prospect of more cheap money from quantitative easing. While many believe the run higher will come to a halt in the not too distant future, the upside could still have some momentum. The current IG Index price on the FTSE is 5,674-5,675.
Silver is benefiting from strength in gold and other precious metals. The price has had a good run recently and looks set to continue. Capital Spreads quotes a price of $22.89-$22.92 for Silver December.
The euro is charging against the dollar while the Bank of Japan (BoJ) seems poised to intervene at any moment. This makes euro-yen looks like an interesting long bet. Yesterday it broke through a twelve-month downtrend resistance line and a 150-day exponential moving average at around ¥115.25. If the BoJ does intervene we could well see the yen shoot up to the 200-day moving average around ¥118. Spread Co offers a spread on euro-yen of ¥115.41–¥115.44
The FTSE is forging ahead to new highs while other indices are lagging, in particular the German Dax. It should catch up soon, testing its own 2010 highs just below 6,400. Capital CFDs offers a price of 6,258.0-6,259.0 for the Dax index.