Best Financial Markets Analysis Article Last night, US markets closed strongly with the S&P 500 up 3.41% and the Dow Jones up 2.97%. This morning the S&P 500 futures have slipped back, but not by much, down 0.10% this morning.

On currencies, the euro continues to show relative strength, with the EUR/USD up 0.25%.

By contrast the Australian dollar is lagging as commodities succumb to profit taking. The AUD/USD and AUD/JPY are down 0.25%.

Gold enjoyed a strong day yesterday, closing around $1675, though no progress has been made this morning.

· This morning we have a speech from ECB president Trichet starting at 08.30.

· At 09.30 we have UK manufacturing with a drop of -0.1% expected.

· At 13.15 Canadian housing starts are due with an gain of 187k.

· UK GDP estimates are also due at 15.00.

The euro continues to show good momentum with the EUR/GBP above its 10 period moving average once again. In 2011 though this has not exactly been a sure fire buy signal, in fact its been quite the opposite with a profit made by selling the EUR/GBP when it crosses above the 10 MA and buying when it crosses below.

A good way to play this might be a HIGHER trade predicting that the EUR/GBP closes below 0.8700 in 5 days time for a potential return of 139% at Betonmarkets.

Summary:

Dave Evans
Email: editor@my.regentmarkets.com
Url: www.BetOnMarkets.com

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Disclaimer: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Do your own due diligence.

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