|08 Aug 2016||
Asset Allocator 08/08/16
Another relatively quiet week for markets. Oil recovered some of its poise, moving up 2.5% for Brent crude while gold pulled back 1.13% to $1335 an ounce. UK equities had another good week with the FTSE 100 up over 1% and the FTSE 250 up slightly more at 1.06%. US equities as measured by the S&P 500 tracked behind these British gains, increasing only 0.43%. For the FTSE 100 the psychological barrier of 7000 still looms while the S&P 500 at 2250 still looks a possibility.
|01 Aug 2016||
Asset Allocator 01/08/16
A short note this holiday week. Equity markets barely moved over the five days to Friday 29th July, with both the FTSE and S&P very marginally nudging lower over the week – though it is worth noting that the FTSE 250 ended the week up 1.76% and the FTSE Small Cap increased a whopping 2.18%. Gold prices stopped their recent decline pushing back towards the $1350 an ounce level but the biggest move of the week was in oil where Brent prices fell back by 5.4%. Many oil traders now have $40 a barrel as their next target, and with financial futures many times bigger than actual physical trades, all we need is for the bears to be in ascendant and we could see another push downwards.
|25 Jul 2016||
Asset Allocator 25/07/16
Another relatively quiet week for the financial
markets. In the five days up to Friday 22nd July, equities moved steadily ahead
with the FTSE 100 up 0.92% to 6730, and the benchmark US index, the S&P 500,
up 0.61% to 2175. Both look to be in bullish form, well above their recent
moving averages – I’d stick with a bullish view for the S&P 500 pushing past
2250 at some stage before the inevitable late bout of summer profit
taking. The biggest move of the week has
been in oil prices which are now fast approaching $45 a barrel level for oil. If
prices do move below $42 we could see a much bigger bear market in oil although
I’m not quite sure that the current market supply and demand fundamentals would
justify another big sell off.