Spreadex Market Update
Dollar slumps amid further political uncertainty.
The dollar has seen its lowest levels since 2015 this morning, largely down to the continued hostilities with North Korea and the continued rampage of Hurricane Irma. North Korea are expected to carry out another missile test tomorrow on what would be the country’s ‘founding Day’. The Pound has risen above $1.31, and the Euro has fully cemented its place above $1.20. This hasn’t even been offset with any gains in the Dow Jones pre-market, with an expected open set to be down 50 points on last night’s close.
In the UK this morning, we got some insight into recent manufacturing and industrial figures. The manufacturing production saw a sharp gain (up 0.5% against 0.0% previous); the trade deficit figures only pointed to very slow growth (increased EU exports were offset by poor exports worldwide); and the construction output also took a hit (-0.9% down from -0.1%) which only points to a further decrease as the uncertainty from what life after Brexit will bring carries on leaving businesses and investors in the dark.
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