Spreadex Market Update
Asian shares started the week in negative ground
Asian shares started the week in negative ground throughout the night as the conflict in Iraq continues to impact global markets, mainly the prices of oil which has rocketed to a 9-month high as exports could be effected by the violence. Gold seems to be the chosen ‘safe-haven’ once again in times of crisis with the price hitting three-week high levels.
Heading into the European open, we are currently calling the FTSE 100 down 16 points to continue further losses from Friday’s session.
Investors will be looking ahead to Wednesdays extremely important FOMC Statement where the Fed will communicate with investors regarding the monetary policy. It is now expected that the Fed will continue to taper its monthly asset purchasing programme by a further $10bn to $35bn. Following on from the statement, Janet Yellen will hold a press conference where her words will be scrutinised in order to get clarity for investors.
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