Spreadex Market Update
European stock futures rise ahead of the open
European stock futures rise ahead of the open, rebounding slightly from the previous day’s heavy selloff. Asian shares however were playing catch-up overnight, falling for the fourth day amid concern the Federal Reserve’s plan to cut stimulus and as China growth stalled.
Emerging-markets are off to the worst start to a year since 2009, with The MCSI Emerging Markets index losing 7.1 percent this year. With growth concerns from China, currencies from Turkey to South Korea have tumbled.
Markets may be subdued today following the recent sell-off and as investors take bets ahead of the all-important Federal Open Market Committee meeting tomorrow. Officials are expected to announce a further reduction in their bond buying program following on from their December tapering which saw a $10 billion reduction. Monthly purchase pace is currently at $75 billion.
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