Spreadex Market Update
Thursday’s ECB meeting hangs over markets despite Brent Crude encroaching on $40 per barrel
Falling around 30 points at the open only to claw back its losses as the afternoon continued, the Dow Jones is now flitting around the 17000 mark it struck last Friday, apparently (and understandably) less bothered by the jitter-causing wait for Thursday’s ECB meeting than its European peers. It was a typically sleepy post-non-farm Monday data-wise, the US offering up nothing of real note as the day continues; there are, however, speeches from FOMC member Lael Brainard and vice-chair Stanley Fischer early this evening, speeches that could give some insight into the central bank’s mind-set ahead of next week’s meeting.
Shrinking its losses to around 30 points the FTSE benefited from Brent Crude’s sustained recovery this Monday. Teasing (if not quite reaching) $40 per barrel for the first time since last December the black stuff’s climb allowed majority of the UK index’s commodity stocks to reverse their earlier reversal, the miners especially returning to the 4 month highs they had abandoned after the bell this morning.
Whilst the FTSE was aided by its commodities, the Eurozone indices remained more resolute in their losses this Monday, the DAX and CAC never really straying from their 0.9% falls. It appears that, with worrisome words coming out of the Eurogroup meetings in regards to the semi-dormant, but unresolved, issue of Greece, the similarly unsolved refugee crisis and, most relevantly for the markets, the question over what Mario Draghi means when he says he will ‘do whatever it takes’, investors are unwilling to take on too much risk ahead of Thursday’s ECB meeting.
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.
