Spreadex Market Update
UK economy back at pre-recession levels while Euro markets lag
The UK economy grew by 0.8% in Q2 of 2014 which has brought it back to a pre-recession level. Despite the upbeat news, European markets continue to lag throughout the day with the FTSE 100 down 10 points and the German Dax also down 54 with the geopolitical situation in Russia continuing to weigh in on markets. The Euro has also continued to decline, falling through eight-month lows and currently trading around the 1.3430 level.
Prior to the US open, the futures are pointing towards a softer open which follows on from the session in Europe. With a relatively thin calendar, the only notable piece of data investors will be looking at is the Core Durable Goods Orders at 1.30pm, set to come in at 0.6%.
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