Gold claimed another record high on Monday as the dollar resumed its downtrend and Asian stockmarkets put in a solid performance.
European bourses are slated to open at or close to new peaks for the year after Wall Street successfully navigated a potentially tricky session on Friday.
Spreadbetting groups are pointing to the FTSE 100 in London opening at about 5,320, a gain of about 28 points and the highest level for the London benchmark since September 2008.
Germany’s Dax may open 28 points higher at 5,714.
Indices are likely to receive propulsion from commodity stocks after gold hit a new high of $1,130.25. It was later trading at $1,128.30, up 0.8 per cent.
Oil also rebounded, up 1.3 per cent to $77.34 a barrel.
Commodities were buoyant on global growth hopes but also renewed weakness in the dollar. The greenback had enjoyed a sudden bounce last Thursday, but this respite has not lasted long. It again fell back on Monday to the 75 point mark on a trade-weighted basis, down 0.4 per cent.
Against the euro the dollar was again flirting with $1.50, down 0.3 per cent at $1.4973. In addition, it was close to parity with the Swiss franc, falling 0.3 per cent to Sfr1.0086.
The resumption of dollar weakness encouraged investors to add to bets in the carry trade, whereby the US unit is apparently sold to purchase riskier assets such as stocks and commodities.
At the moment this looks like transferring to Wall Street, with US futures suggesting the S&P 500 would open higher by about 7 points to also challenge last week’s yearly highs.
Wall Street’s measure of investor anxiety, the Vix index, had dipped on Friday by 3.63 per cent to 23.36 as traders became more sanguine in the light of the market’s ability to finish higher by 0.6 per cent despite some weak consumer sentiment figures.
Stockmarkets in Asia made gains, though Tokyo struggled in the face of some big fundraisings. The Nikkei 225 eked out a 0.2 per cent rise to 9,791.2.
Chin
European bourses are slated to open at or close to new peaks for the year after Wall Street successfully navigated a potentially tricky session on Friday.
Spreadbetting groups are pointing to the FTSE 100 in London opening at about 5,320, a gain of about 28 points and the highest level for the London benchmark since September 2008.
Germany’s Dax may open 28 points higher at 5,714.
Indices are likely to receive propulsion from commodity stocks after gold hit a new high of $1,130.25. It was later trading at $1,128.30, up 0.8 per cent.
Oil also rebounded, up 1.3 per cent to $77.34 a barrel.
Commodities were buoyant on global growth hopes but also renewed weakness in the dollar. The greenback had enjoyed a sudden bounce last Thursday, but this respite has not lasted long. It again fell back on Monday to the 75 point mark on a trade-weighted basis, down 0.4 per cent.
Against the euro the dollar was again flirting with $1.50, down 0.3 per cent at $1.4973. In addition, it was close to parity with the Swiss franc, falling 0.3 per cent to Sfr1.0086.
The resumption of dollar weakness encouraged investors to add to bets in the carry trade, whereby the US unit is apparently sold to purchase riskier assets such as stocks and commodities.
At the moment this looks like transferring to Wall Street, with US futures suggesting the S&P 500 would open higher by about 7 points to also challenge last week’s yearly highs.
Wall Street’s measure of investor anxiety, the Vix index, had dipped on Friday by 3.63 per cent to 23.36 as traders became more sanguine in the light of the market’s ability to finish higher by 0.6 per cent despite some weak consumer sentiment figures.
Stockmarkets in Asia made gains, though Tokyo struggled in the face of some big fundraisings. The Nikkei 225 eked out a 0.2 per cent rise to 9,791.2.
Chin
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