Spreadex Market Update
Global markets took to the downside
Global markets took to the downside after a mix of economic data sent nerves through the markets. Despite US Core CPI, Unemployment Claims and Philly Fed Manufacturing data coming in better than expected, markets shifted lower on a late reaction to European flash GDP figures and weaker earnings. Wall Street was trading over 100 points lower, pressured by weaker-than-expected earnings from Wal-Mart. The Biggest US retailer fell over 2%, blaming cold weather for the fall in profits.
The euro continued its losing streak against the dollar, hitting 11-week lows after the subdued euro zone growth and inflation data bolstered expectations of further easing.
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