Spreadex Market Update

Better than expected UK jobless claims 



Better than expected UK jobless claims and the release of the BOE minutes helped boost the FTSE above the key 6,400 level for the first time in five years. The Bank of England minutes showed an apparent shift towards more easing by the central bank which has helped increase investors’ appetite for risk.

Despite worse than expected US Building Permits and PPI figures, the Dow Jones remains unchanged heading into the US open. Investors quickly shrugged off the results and will now focus on the monthly minutes from the Federal Open Market Committee due later this evening.

Gold futures continued to slide, hitting to a six-month low in the worst losing streak in more than a year as signs of economic improvements curbed demand for safe haven assets.

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