Spreadex Market Update
Quiet Monday morning as markets eye Fed meeting
By the end of last Friday the FTSE continued to look rather sickly, despite the minor recovery of the Carney-inspired precipitous losses felt in the first half of last week. The FTSE is valiantly trying to continue last Friday’s marginal gains, but investors are lacking a reason to believe in the UK index’s rejuvenation this morning and with little in the way of data for the FTSE until Wednesday it may flounder until mid-week.
As the steroid injection of ECB QE continues to swell the DAX, as well as the other Eurozone indices, investors remain enthralled with the region and seem committed to continuing its upswing. There was no real change for the euro-dollar; despite edging up half a percent the euro remains in dire straits following the full-blown implementation of QE.
Big slips in inflation and consumer sentiment data last Friday capped off a sour end to an already rocky week for the Dow Jones; however the US futures are tentatively in the green this morning as investors look to put last week’s fireworks behind them. With the European Central Bank’s actions spurring the Eurozone markets to fresh highs, the week’s focus looks set to be on the other major national banking institutions; the Fed is widely expected to more firmly point to a June rate hike after last week’s US data dismissed hopes of an earlier rise, whilst the Bank of Japan is predicted to continue its QE-push in order to reach the haloed 2% inflation target.
Finally, in the world of commodities things are still looking gloomy. Last week’s sell-off of Brent Crude appears to have stalled this morning; however, this still leaves the commodity at $54 per barrel, a far cry from the $60 per barrel levels it had maintained for much of the past 6 weeks. Similarly, this morning’s half a percent in gains still leaves gold at $1162 per ounce as the precious metal struggles in the face of the dollar’s post-ECB QE strength.
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.
