Spreadex Market Update
European markets perkier whilst dollar regains strength
George Osborne’s economic recovery claims were dealt a blow this morning, as the trade deficit widened further than expected due to a fall in exports, providing another example of the Chancellor’s failure to rebalance the UK economy, regardless of the successes elsewhere. This news hit the pound for six as it began to give up the gains it had made yesterday against the dollar and the euro. However, the FTSE was unfazed by the news, as the gradual resumption of yesterday’s oil and mining gains saw the index increase its growth and edge closer to the 7000 mark that it could only tickle during Wednesday’s trading.
The Eurozone remained rather flat, if a greenish kind of flat, as the day went on with the region waiting for the confirmation of reports that Greece has indeed paid its IMF loan instalment on time. With Greek unemployment easing and the country’s deflation slowing down, things are (very, very slightly) looking up for Greece. However, today also saw the announcement of the latest deadline for Athens, with the Eurozone’s deputy finance ministers providing a 6 working day period for Greece to supply its latest set of reforms. These Greek reforms remain the key sticking point between Greece and its creditors; if the Greeks want to stand a chance of unlocking the bailout funds they desperately need at the next Eurogroup meeting on April 24th, then this latest attempt at composing a creditor-pleasing reforms list has to succeed.
Whilst the situation looked better in Europe, the US futures remained perturbed by the latest expression of dollar strength, with the chance of a weak unemployment claims figure this afternoon failing to inspire a turnaround from this morning’s downward trend. The lack of change in the US futures could be ominous for the European markets this afternoon, as their gains aren’t currently robust enough to withstand a potentially negative US open.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
