Greater London, England -- (SBWire) -- 01/11/2011 -- Market analyst and financial spread betting expert Nick Serff of City Index (http://www.cityindex.co.uk/) casts his eye over the markets as the FTSE sell off continues on the afternoon of 7th January.

"A fall in the headline U.S. unemployment rate wasn’t quite enough to outweigh a disappointing Non-Farm Payroll number, with most European bourses finishing the session lower. Investors had high expectations for a block busting Payroll number after Wednesdays ADP Employment Survey surprised to the upside. However the forecasted 150k new jobs added to December’s payroll turned out to be only 103k, which was towards the lower end of the expected range. After initially selling off on the release of the jobs data markets recovered, only to come under pressure again going into the close, Germany’s DAX 30 finished down 0.4 percent.

The price of the Dollar lost a small amount of ground after the release of last month’s U.S. jobs data, giving back some of its recent gains after a stellar week. The Dollar Index, which measures the value of the Dollar against a basket of other major currencies traded up to a new one month high today, before investors decided to book profits at the 81.50 resistance level. The price of the Euro also recovered briefly back above 1.30 before coming back under renewed pressure. Market rumours earlier in the day that Spanish banks could once again be having debt problems weighed on the Euro and pushed Spain’s Ibex index down over 1 percent.”

You can keep up with market news on the move with City Index’s iPhone spread betting app, City Trading. Visit http://www.cityindex.co.uk/trading-platform/mobile-trading-platform.aspx for details.

About City Index
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, binary betting, CFD trading and, in the UK, financial spread betting.

We constantly look to widen the range of assets we offer, improve the performance of our spread betting and CFD trading platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support.

Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.

For more information, visit http://www.cityindex.co.uk/.