Daily Market Report: August 30th

BinaryOptionsNow | Published on August 30, 2011 at 4:14 pm

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US markets on the rebound

The Dow closed 2.26% and the S&P closed 2.83% at the end of yesterdays US trading sessions, on the back of a Commerce Department report showing US consumer spending rose higher than forecast in the month of July; easing fears of a double dip recession.

However, the current US futures index shows the DOW opening down -0.31% and the S&P opening down -0.39% suggesting that yesterdays rebound may have been a brief glimmer of hope for the struggling American economy.

How will today’s trading session play out for the American Equity markets?

 

Greenback Struggling against Sterling

After a brief recovery on the back of positive economic data during yesterdays trading session, the Dollar is back to struggling against the sterling.

With The US Futures Index down ahead of today’s opening combined with the projected cost of Hurricane Irene running into the billions, the international reserve currency is back trading down at $1.6330.With the FTSE trading up 127 points and US Futures down, will the Greenback recover or struggle against the Sterling.

Gold continues to struggle after last weeks looses

Gold has dropped off $10 since this mornings UK market opening. After a strong showing during Asian trading the precious metal has dropped off as UK Equities are performing well with the FTSE opening 100 points up.

After breaking the $1900 an ounce barrier for the first time in history this month, the commodity has struggled with brief rebounds ion the global equity markets.

However, with the US project to open down but with the FTSE trading up how will the Gold price move during today’s session?

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