Spreadex Market Update
Eurozone indices surge as Mario Draghi’s big reveal approaches
An 8 month high for Germany and a 3 month low for France were arguably the highs and lows of the morning’s Eurozone services data, with a few missed estimates and news that companies were charging less for the 2nd month in a row taking the edge off of some of the more impressive numbers. Of course in the grand scheme of things those figures will likely count for nought by this afternoon, when ECB President Mario Draghi reveals whatever QE/deposit rate cut white rabbit he has been carrying around in his stimulus hat. The DAX and CAC certainly seem to think so, abandoning their early morning jitters to post 100 and 60 point gains respectively.
Despite the majority of its commodity stocks remaining firmly in the red it appears that the UK index is getting a bit of run off goodwill from the Eurozone, allowing it to recover from its early wobble; combine that with a better than expected, and 4 month high-hitting, services figure and the FTSE could post a mild 15 point increase as the morning continued.
Whilst the Eurozone is Thursday’s star, the US markets are still keen to remind investors that they intend to dominate the final few weeks of the year. Jobless claims, Markit and ISM services figures and the latest factory orders all arrive this afternoon; as does another speech from Janet Yellen, who testifies in front of the Joint Economic Committee later today. Yesterday saw the Fed chair provide arguably her most hawkish offering of the past few months, once again hinting that December’s FOMC meeting should see a rate-hike lift-off. US investors weren’t too happy to hear this last night, sending the Dow Jones sharply lower; however, the index appears to have recovered this morning, its futures jumping 130 as they bask in the Eurozone’s current glow.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
