Spreadex Market Update
Standard and Poor closes at a record high
The dollar weakened against major pairs as investors disregarded upbeat US economic data and ahead of an important speech from Federal Reserve Chairwomen Janet Yellen. During Janet Yellen’s first Jackson Hole meeting, many expect her to remain dovish despite the strengthening US economy. With Gold dropping by over $17 yesterday, the precious metal has slightly recovered this morning, trading $5 higher to $1281 an ounce ahead of Yellen’s speech.
European futures are indicating a lacklustre start as investors tread cautiously ahead of the central bank events at Jackson Hole. The FTSE is called up 5 points to 6778.
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