Spreadex Market Update
The global rebound continued overnight
The global rebound continued overnight during a positive Asian session after Russian President Vladimir Putin said he sees no immediate need to invade Ukraine. With a receding threat of war between Ukraine and Russian, equities have managed to erase all of Monday’s loses. European markets are signalling a slightly softer open with FTSE 100 futures indicating a 14 points lower open since yesterdays close.
Gold continues to retreat from a four-month high as investors reduce the demand for a protection of wealth and moves investments to more risky assets. Gold has rallied over 11 percent this year, rebounding from the biggest loss since 1981.
With tensions between Ukraine and Russia eroding, investors will be keeping a close eye on a string of economic data due later today. Ahead of monthly non-farm employment data realised on Friday, ADP non-farm data today could give investors further clues on the state of the employment market. Over in Europe, with Retail Sales in January showing an encouraging sign, investors will keep a close eye on today’s data to see if it follows suit.
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