Spreadex Market Update

Euro conclude a choppy session



European markets have concluded a choppy session, ending the day marginally higher on a muddle of continued central bank interpretation and data. U.S. indices are trading much the same, chopping between gains and losses as indices bounce from three-week lows.

The feeling in the market is one of mild anxiety, with strong gains behind us and a feeling of uncertainty ahead. Gold trades lower at $1,395 for August delivery.

Basic materials once again underperformed today, continuing a trend well-established now. Financials and telecoms have been a bright spot for equities, adding around 1 per cent on average. Yields have been creeping higher on the bond market, reflecting well investors' scepticism over fixed income.

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