Spreadex Market Update
Calmer commodities lead to cautious gains this Wednesday morning
A better than anticipated Chinese inflation figure, at 1.5% against the 1.4% forecast, appears to have helped matters this morning following Tuesday’s unexpectedly weak trade data; at the very least, the slight improvement didn’t make things any worse. Currently up by around 1.5% Brent Crude still remains perilously close to yesterday’s near 7 year low, trading at $40.70 per barrel; copper, meanwhile, is up over 1%, leading the miners to some kind of (relatively insufficient) recovery.
The cautious gains of its commodity stocks had initially allowed the FTSE to open around 15 points higher this Wednesday, but with spots of red appearing throughout the sector the UK index soon found itself flat. The Eurozone, meanwhile, was similarly meek; the DAX, normally the region’s best performer, was hurt by falling demand from China and Russia despite a near record high trade surplus figure, leaving the German index (with its 10 point decline) in the unlikely position of being slightly outshone by its French peer.
Whilst today might look like an improvement on yesterday’s nadir-hitting nightmare (hardly an achievement) there is still a long way to go until closing time, with painfully little on the agenda to prevent investors lingering over the current commodity crisis. If anything this afternoon’s US crude oil inventories figure will only bring the issue back into focus.
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.
