Spreadex Market Update
Markets continue their downward spiral
Traders were also particularly concerned with the complacency of US policy makers who were adopting a wait and see strategy before committing to any further stimulus. This is despite global growth concerns from major global economies, including the US. Thus, trading volumes continued to remain low this afternoon as traders adopted a similar detached strategy.
Despite this, US weekly unemployment claims were better than expected which attempted to juxtapose the current negative tone within the global markets. However, bears restrained any substantial gains and remained fixated on the dire state of the global economy and whether worse than expected Chinese GDP data released tomorrow morning will finally be enough to push any remaining optimists out of the market, at least for a while.
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