Spreadex Market Update
Asian shares were mixed throughout the night
Asian shares were mixed throughout the night as sentiment began to shift amid a drop to a 4-month low in China’s services sector. The May HSBC Services PMI figure came in at 50.7, a drop off from 51.4 in April however still above the contraction level of above 50.0.
FX markets may get particularly choppy today as investors eagerly await the European Central Bank’s conference set to begin early this afternoon. The Euro is currently just trading off its lows ahead of the conference where Mario Draghi is set to make changes to the policies such as cutting interest rates.
Heading into the European open, we are calling the FTSE 100 to open flat from yesterday’s closing price, however GBP Asset Purchase Facility and the official bank interest rate figures are due out at 12:00 which may be used as a catalyst by investors.
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