Excerpt from: Financial Spread Betting Strategies
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| January 23, 2007 | | Placing spread bets with insight from economic data |
When formulating a financial spread betting strategy, it is helpful to consider economic data from the countries involved. In the case of the euro, it is a good idea to look at euro zone economic data. Placing spread bets in the next few days involving the euro and other aspects of financial markets on the Continent should consider this information from Forbes:
Upbeat euro zone industrial data has prompted another move higher
for the euro,' Matthew Foster-Smith at Thomson IFR Markets said.
As a result, the euro broke through the 1.30 level against the dollar,
which is considered a psychologically-important barrier. The
pair 'has continued to hold above the key support in the 1.2920 zone
suggesting that a bottom is in place' and the euro is set to forge
higher against the dollar, BNP Paribas economists said. They note comments from European Central Bank
board members have remained hawkish, pointing to the continued need to
raise rates. ECB is widely expected to have hiked its key policy rate a
quarter by March. Meanwhile, the French consumption data is expected to add to quarterly economic growth. | | |
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