Spreadex Market Update
Mixed data
The FTSE 100 is 10 points higher at 5,820, with technologies and utilities leading where industrials and basic materials lag.
We’re seeing gold relatively stable in sympathy of a marginally weaker dollar, selling at $1,780 per troy oz. for December delivery. The euro has switched between gains and losses against the greenback for the session, but has remained largely unchanged at €1.2910.
Sentiment has been divided, with some participants still looking to play the potential inflationary aftermath of QEn against the clear pessimism surrounding unfolding headline risks.
The outcome of Friday’s jobs numbers is likely to dictate sentiment near-term. Importantly, the decent ADP figure today has presented more downside risk by way of renewed positive expectations should non-farm disappoint.
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