Spreadex Market Update
Eurozone surges ahead on current account surprise but FTSE struggles to gain momentum despite Brent Crude crossing $35 per barrel
Even with Brent Crude climbing back to the $35 per barrel mark, the oil bulls clearly erring on the hopeful side of things following yesterday’s continuation of the OPEC/Russia/Iran output freeze talks, the FTSE has barely managed to escape its initial dip into red waters this Thursday. Anglo American and Rio Tinto are among the biggest drags, falling around 6% and 4% respectively, arguably suffering in light of the day’s improved, but still unsatisfying, Chinese inflation figure.
The Eurozone, on the other hand, shook off its early reluctance with style, in no doubt helped by a region-wide current account figure that, at €25.5 billion (with an upwards revision to €29.7 billion for last month), was far better than expected. That leaves the DAX, jumping around 140 points, skipping past 9500 for the first time since the start of the month, with the CAC now just 30 points away from the 4300 level.
Things are a bit more tentative over in the US futures, with the Dow Jones currently looking at a 70-ish point increase when the bell rings on Wall Street. First the index will have to endure the latest Philly Fed manufacturing index (expected at -2.9 against last month’s -3.9) alongside the regular Thursday reveal of the jobless claims numbers (forecast to creep up to 275k from last week’s near 2 month low of 269k).
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
