Spreadex Market Update

FTSE steady while Europe falls on inflation worries



The FTSE is currently at +0.34%, compared to the DAX and CAC which are both in the red by 0.93% and 0.74%, respectively.

It comes after the Eurozone announced this morning that yet again, it has overshot forecasts as the CPI for December was 5%, compared to expectations of 4.7%.

House prices took another extraordinary jump by 1.1% last month, representing a rise of 9.8% in 2021, the strongest annual growth since July 2007.

US employment data has most likely only made things worse for European markets as it missed expectations today.

The DOW (-0.14%) and S&P (-0.49%) both fell today on the back of a poor jobs report. Only 199,000 jobs came back during December, which was not only slower compared to last month, but also far below the expectations of 400,000.

Although it was not all bad, as the Unemployment Rate improved to 3.9%, lower than both last month’s figure, and the forecasts.

It could be that the disappointing Payroll figures are only temporary, from fears of the Omicron variant, but many are worried this is a sign of a slower than expected recovery from the pandemic.

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