Spreadex Market Update
European markets continue to hold onto gains
European markets continue to hold onto gains with the Dax up 55 points following better than expected French, German and Italian GDP data. US futures remain little changed, showing a 5 point higher open before a consumer confidence statement.
Gold headed for the biggest weekly advance since August, breaching the technical $1300 level. The prospect of a reduction in monthly-bond purchases by the Federal Reserve has helped the precious metal recover after the 2013 slump which saw the value drop 28 percent.
Figures this morning showed the Eurozone’s economy grew by 0.3% in the final three months of 2013, up from 0.1% growth in the previous quarter. The better-than-expected figure showed the Eurozone grew for a third quarter since the end of an 18-month recession.
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