Spreadex Market Update
Euro sell off continues
The continued sell off in the Euro was taken to another level throughout the Asian session, breaking quickly through $1.08 against the Dollar which in turn sparked a harsh sell off into today’s European session. Currently trading at its lows against the Dollar of around $1.0740, the pair hasn’t traded this low in over 10 years. The strong Dollar was also seen significantly stronger against the Yen, hitting the key 122 level before retreating slightly.
Asian markets were also treated to the all-important Consumer Price Index figure throughout the night which was seen slightly better than expected at 1.4%. The increase in the figure is said to be as a result of a change in food prices.
Ahead of the American open, investors will be eager to see how Apple will trade today after last night’s volatile session as the brand new Apple Watch was unveiled. Apple stock was trading higher heading into the keynote speech last night however investors weren’t too impressed by the end, giving back all of its earlier gains once the Watch was announced.
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