Spreadex Market Update
Europe opens pessimistically
Investors are also confused as to how to digest inflation data from China.
The nation’s CPI rose 1.9% year-on-year which was in line with expectations and will likely sit well with Chinese policy officials recent attempts to control price gains.
However, more worryingly, PPI which is seen as key indicator of price trends declined by 3.6% year-on-year.
Thus, tight trading ranges and small gains and losses within European markets are reflective of investor’s struggling between weighing up the benefits of finally receiving at least some positive data from China, in the form of in line CPA, but at the same time struggling with the possibility that Greece may be pushing the boundaries with their new austerity package which may in turn result in a failure to receive future funding from the ECB.
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