Including today, there are just two trading sessions to go before Christmas. Historically this period has been extremely positive for stock markets. Taking last night’s close as our entry point, the benchmark US index, the S&P 500 has closed higher at some point during the next 5 trading days 95.5% of the time! It will certainly be impressive if markets manage to rally once again this year because it means that indices such as the Dow Jones (Wall Street) will finally break out of the month long trading range. Switching to forex markets, the dollar was strong once again, especially against the British Pound (GBP/ USD) as traders reacted to the news that the UK is still in recession. The UK wasn’t the only faller though, with the Aussie and Kiwi dollars continuing their downwards trajectory (AUD/ USD & NZD/ USD).

This morning, markets are quiet as you would expect leading into the last serious trading session for the year. In early trading, the pound is under pressure again though, especially against the Japanese yen (GBP/ JPY).

What’s hot?

Betting against the British Pound: GBP/ USD & GBP/ JPY

Binary Betting  idea:

Including today, there are just two trading sessions to go before the holdiday period starts in earnest!. Historically these few days have often been extremely positive for stock markets with the so called Santa Clause rally. Taking last night’s close as our entry point, the benchmark US index, the S&P 500 has closed higher at some point during the next 5 trading days 95.5% of the time! It could therefore be a good period for some One Touch higher trades or Double (up) bets on the S&P 500.

Today’s market movers:

Today we have the release of the minutes from the last UK Bank of England Monitory Policy committee meeting. Analysts will be interested to see if there any hints as to a potential plan B if the quantitative easing plan fails to work as some are speculating. The day’s other standout announcement is US New Home sales at 15.00.

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