Spreadex Market Update
European markets remain little changed
European markets remain little changed as investors took a breather following last week’s heavy volatility. Conflict in Ukraine was also on investors’ minds after a military operation to win back control of eastern Ukrainian cities was launched by pro-Russian activists. Data from Europe has been fairly mixed with German ZEW economic sentiment coming in below forecasts whilst UK CPI came in as expected. Gold fell from a three-week high on signs of an improving US economy, slowing demand for haven products.
The euro traded slightly lower against the dollar after German ZEW economic sentiment data came in at 43.2, lower than the 46.3 estimate. The survey of around 275 institutional investors believes the next 6-month outlook is slightly worse than analysts have originally thought amid concerns about the conflict in Ukraine. Meanwhile Sterling strengthened against the dollar after UK inflationary data showed a drop to 1.6% in March, from 1.7% in February. Although widely expected, lower petrol prices helped eased consumers wallets.
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