Spreadex Market Update
OPEC cuts oil demand outlook, whilst pre-Fed jitters infect Dow Jones
Abandoning its earlier losses for a far more flat tone of trading the Dow Jones remains at its highest point(ish) since the year began, sporadically crossing the 17200 mark as the day wore on. Yet the index may struggle to seriously build on this 2016 peak until after Wednesday’s Fed meeting, lingering uncertainty over what the central bank will do preventing investors from buying in the continued rally seen over in Europe. At least Tuesday provides investors with something else to focus on (even if every piece of data will be drawn back to how it impacts any potential decision from the Fed) with retail sales and the Empire State manufacturing index set to arrive before the bell.
On a day light on data Brent Crude dominated discussion, and not in a good way. Investors turned on the black stuff as Monday continued, a 3% fall sending the commodity to a week low, the sell-off fuelled by Iran’s continued oil output freeze obstinacy. However, despite a gloomy report from OPEC that saw the oil cabal cut its demand expectations by 100,000 barrels per day for 2016 as a whole, news that production fell in February helped ease Brent Crude’s losses, lifting it above the $39 per barrel mark it was threatening to dip below.
Against the odds the FTSE held onto a 40 point rise this Monday, ignoring the smattering of red in its commodity sector to follow the DAX’s lead. Tuesday is set to be another quiet day for the UK index, likely leaving it under Brent Crude’s influence once again, things not hotting up for the FTSE until Wednesday’s jobs report/Osborne budget double whammy.
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.
