Spreadex Market Update
Risk Assets rebound
We have seen a double bottom form on charts representing markets such as FTSE 100, Dow Jones and EUR/USD which could potentially signal a reversal is possible although it is clear there are still many spread bettors and investors alike sticking to the sidelines until we hear some sort of EU announcement stating how they plan to tackle the latest episode of the debt debacle.
With a Greek euro exit gradually being priced in traders will be waiting for more central bank stimulus to recover these recent losses, which could come from China, as its latest bout of data manifests how their domestic demand is slowing.
Or the much needed boost could be delivered by the Fed, which would be subject to economic developments and could be some time away, or from EU fiscal unity, increases to the debt firewall or further ECB intervention.
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