Spreadex Market Update
The dollar once against rallies
The dollar has once against rallied throughout the day, impacting global bourses and commodity prices which has resulted in a particularly volatile session. Wall Street has continued its sell off heading into the weekend with the Dow Jones currently 250 points lower whilst in London the FTSE 100 is trading down 45 points. Bucking the trend and continuing its incredible rally is the German DAX, trading almost 100 points higher whilst trying to break through another milestone at 11900.
Oil has taken a large hit today, erasing all the gains we saw last month. Light crude oil is now trading at $45.50 a barrel, down almost 60% from last year.
Looking at figures, US PPI came in at -0.5% for February, the fourth straight month that producer prices have fallen in America. The figure was expected to be at 0.2%. Consumer sentiment figures were also released, showing a decline to 91.2 mainly down to winter weather.
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