Spreadex Market Update
Markets maintain gains as all eyes turn to this evening’s Fed meeting
It’s only a few hours until the Federal Open Market Committee’s much anticipated December statement and the markets appear to be prepping themselves for the announcement of a rate-hike and with it some much needed clarity. Any questions surrounding tonight’s announcement are now more focused on how fast the Fed will raise rates, rather than if they will raise rates at all, with analysts arguably looking for a ‘dovish hike’ and plenty of reassurance that Yellen and co will be taking things slowly. Of course the central bank still has the capacity to disappoint, though there seems to be more certainty from analysts and investors this time around when compared to the last feasible moment for lift-off back in September.
The fact that better than expected building permits and housing starts were countered by weaker than forecast capacity rate utilization, industrial production and flash manufacturing PMI figures this afternoon failed to make a difference to the US markets, the Dow Jones opening around 100 points higher as the American session got underway, the index’s its eyes firmly focused on this evening’s events.
The UK and Eurozone indices continued to bask in the glow of today’s potential (likely?) rate hike; the FTSE maintained a 50 point increase, despite Brent Crude continuing to fall by nearly 2% as Wednesday wore on, whilst the DAX and CAC rose by 70 and 25 points respectively. Currency wise the euro outperformed the pound in terms of holding off the dollar, sterling hit by the morning’s weak UK wage growth; it will be interesting to see, however, just how rampant the greenback is this evening if the Fed does indeed pull the lift-off trigger.
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.
