Spreadex Market Update
US inflation data signals rate-hike, global indices intensify rebound
Unchanged at an annual 0.5%, but with the core CPI figure finally hitting 2%, this afternoon’s inflation data appears to dot the i’s and cross t’s on Wednesday’s long-coming US rate hike. Of course, the central bank could still disappoint the markets and fail to initiate lift-off tomorrow evening; at the moment, however, the US indices are jubilantly celebrating the potential end to the uncertainty that has sporadically plagued 2015, the Dow Jones rising by around 190 points as the American session got underway.
Though copper may have fallen nearly 2.5% this Tuesday, the fact that Brent Crude has kept its head above $38 per barrel, news of its own positive inflation figures and the good vibes emanating from the US open has allowed the FTSE to maintain its muscular gains, jumping 135 points to (just about) re-cross the 6000 mark less than 24 hours after hitting a 3 year nadir. Like their UK and US peers the Eurozone indices also took the day’s positive sentiment and ran with it, the DAX and CAC surging over 300 and 145 points respectively.
Tomorrow is a whopper in more ways than one; whist, obviously, Wednesday sees the much-anticipated December FOMC meeting, it also brings with it a wave of Eurozone manufacturing and services PMIs and the latest UK jobs report to distract investors before the Federal Reserve’s big reveal in the evening.
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