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Better than expected "Better than expected" could apply to many features of the market last week. Firstly, stock markets themselves have been performing better than one would expect with the constant stream of negative headlines in the media. There's a feeling that the bad news on the credit crunch is out now, and things are not as bad as feared. More than any thing, markets hate uncertainty and whether it is good news or bad, the fact that the surprises are thought to be behind us has a positive impact. Whether the bad news is really behind us is another matter. BetOnMarkets Weekly Predictions: Euro to weaken further against the US dollar The past week had the potential to be explosive. Central bank meetings in the UK and Europe had traders licking their lips with anticipation for the possible outcomes of the meetings and the potential volatility they could bring. Sadly for volatility lovers, the week came and went with little significant turbulence. Credit Crisis Worst is Over- We'll Believe It When We See It! "Sell in May" says the old stock market adage, but the bulls were in no mood for old wives' tales last week. Markets were in rally mode after the better than expected US jobs report, and news of more liquidity injections from the Federal Reserve. The hush before the storm? Following the previous week’s heavy buying, global markets again finished the week positively. However, gains were limited to around half a percent for the week with the Nasdaq and S&P 500 rising the most. Same Old Story This week saw gold touch $1,000 per troy ounce, oil trading above 110 per barrel, and the USD/JPY trading below 100 for the first time since 1995. The Yen has appreciated almost 12% against the Dollar since January 1 st of this year. Oil hits a New Record Last week was one for record books; Oil surged above $105 dollars a barrel to reach its highest level since records began. Gold fell back from previous highs, but still managed to get within $5 of the magical $1,000 level at one point. Gold is up 18% since the beginning of the year, and since bottoming out in 2001 oil has now risen over 530%. There were also record highs for the Euro, before this too retraced from its highs of the week. Yearning for the Yen The disease that has struck the dollar over the last 12 months has shown signs of spreading further. The US economy was the first to show signs of cracking with slowing growth and recession warnings; but if the Dollar was patient zero, the contagion has now spread says Michael Wright of Betonmarkets.com... Oil finally made it to US$100, what next? While the media's focus continues to be on the mortgage and credit crisis, oil has quietly been making its way back up to $100 per barrel. Oil has already passed its inflation adjusted peak of $80. If oil continues to rise, it will be more expensive that at any other time in history in real terms. Far From Being Over, Further Economic Uncertainty? To say that Wall Street has been paying close attention to the actions of the US Federal Reserve recently is an understatement to say the least. Last week was no different as the Dow Jones & Co reacted frantically to Fed attempts to stoke greater movement in moribund credit markets.... 2007: The Final Cut - BetOnMarkets.com Housing news and interest rate decisions dominated headlines and market sentiment yet again last week. Its easy to forget that there were times when this wasn't the case.... Wall Street rallied once again - BetOnMarkets.com Wall Street resumed its rally this week after new data showed the overall economy is holding up, but isn't so strong as to prevent the Federal Reserve from cutting interest rates says Betonmarket's Michael Wright. The Dow Jones industrial average saw an increase of nearly 200 points on Wednesday.... Bull Markets Climb a Wall of Fear - BetOnMarkets.com After the party comes the hangover, and of course the bigger the party, the bigger the hangover. Over the last few years, financial companies have been gorging themselves on 'foolproof' credit trades, based on sub prime debt. ... Pound Sterling Plunges Against the Yen - BetOnMarkets For once it wasn’t just the Dollar that took a beating last Friday as the British pound fell sharply against the Yen, Euro, Swiss Franc and even the Greenback itself. The fall was all the more telling given the general mauling the dollar took last week against a whole host of currencies. Before Friday’s pullback the Dollar hit a 26 year low against Sterling..... The Bear Awakes Wall Street suffered yet another big drop last week, with investors worried about the spreading fallout from the credit crisis at banks, and about a dollar that just keeps getting weaker. The Dow Jones industrial average fell more than 360 points on Wednesday, coincidently just about matching its post FOMC drop on Thursday November 1st says Betonmarket.com's Michael Wright..... Dollar in the Doldrums The Dollar again grabbed the headlines last week as it hit all time lows against the Euro and levels not seen in generations against the Pound & Canadian Dollar.... Factoring in the Fed - Where to now for the Dollar? Wall Street leapt higher last week after the Federal Reserve calmed investors' fears about a sinking economy, implying that risks to the financial markets from the summer's credit crises have eased, says BetOnMarkets.com's Michael Wright.... With Market Uncertainty Comes Market Volatility Last week world stock markets made a decent stab at recovering from the previous week’s rout. The strongest market was again the Nasdaq, with the new economy shrugging off the previous Friday’s wobble to finish near its highs. Interest rate rumours thrust the market higher, as whispers of another 50 base point cut did the rounds. Few people wanted to be short going into what is expected to be another obliging FOMC meeting on Wednesday.... How to trade when you don't have a clue Wall Street made a reasonable job of reassuring investors that the economy wasn't as bad as feared last week. Blue chip companies such as Apple and American Express beat earning expectations and Google continued its meteoric rise says Betonmarket's Michael Wright..... Are we revisiting the past? Last week the 20 year anniversary of the 1987 crash passed with a significantly negative close for all major stock markets... Who is the top Dollar? Last week Oil continued its ascent into record territory. Just shy of $90 per barrel the much talked about $100 per barrel isn't too far off. Strangely the price still hasn't topped too many headlines, perhaps because prices still sit below £1.00 per litre in the UK. If that dam bursts, UK consumers could be in for a shock says Betonmarket's Michael Wright..... The "new new things" Last week the bulls finally gave some ground to the bears with the US markets hitting reverse gear on Thursday after making new record highs on the day. There was no obvious reason for the reversal other than the general feeling that things were getting a little ‘frothy’. The tech sector took the brunt of the selling, just as it has been enjoying the lion’s share of the gains. The Nasdaq 100 was hard hit hard, with sellers dragging down stocks like Google and Apple from their stellar orbit.... Warning, Currency Consolidation Ahead Wall Street advanced sharply last week as investors interpreted minutes from the Federal Reserve's last meeting, as an indication that the central bank is going to keep cutting interest rates in order to boost the economy. The Dow Jones industrial average, and Standard & Poor's 500 index, reached new record highs. Leading the charge has been the high tech Nasdaq 100, with companies such as Google, Apple and RIM (Blackberry) powering to record levels... Market frenzy to calm? Last week the Dow Jones poked past the psychologically important 14,000 level. However this push could falter as traders question the strength of the post summer rebound says Betonmarket's Michael Wright.... Consumer Confidence Falls, Home Sales Slump, Auguring Trouble for Holiday Shopping Season With the holiday shopping season approaching, crumbling consumer confidence and slumping home sales, could prove to be a bad combination for retailers and the broader economy, according to BetOnMarkets.com’s Michael Wright. The worry is that the labor market may contract further and choke off the holiday spending that retailers are waiting for... Remember oil? There have been many activities missed by headlines writers over the last week due to the focus on the banking crisis. On any other week the rise in the price of oil would be top of the headlines says Betonmarkets.com's Michael Wright. Oil prices reached record highs for the seventh straight session last Wednesday after refineries in California and Texas said they had new outages and the government reported surprisingly large declines in oil inventories.... Dollar Dives Low Against Euro Last week the Euro hit an all time high against the US dollar after speculation intensified that the FOMC (US equivalent of the bank of England) will cut rates to ease the credit crunch which has plagued the equity markets and lending institution world wide...

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