Spreadex Market Update
Busy data of data with UK jobs and Eurozone inflation figures to come
China and the week’s FOMC meeting remain the focus for the markets, so a sign of improvement in the former (however artificial) and dove-boosting data for the latter has caused investors to have a much more positive outlook this Wednesday morning.
Not that these gains will go untested; the FTSE is first up, with the month’s jobs data to come. Wage growth is expected to see a mild increase, from 2.4% to 2.5% (though the figure has missed estimates for the past 2 months), whilst the claimant count change is forecast to decrease by 5.1k against the 4.9k drop announced in August. The unemployment rate, meanwhile, is expected to remain at 5.6% after unexpectedly creeping up from 5.5% in July. In anticipation of these results the FTSE was up by around 30 points, though that increase is lower than its initial 50 point high.
The Eurozone then sees its final inflation figures, expected at a stagnant 0.2% for the third month in a row. Another lower than 0.2% will put extra pressure on the ECB to increase its quantitative easing measures; it will be interesting, then, to see if the Eurozone indices react positively to a lower than forecast figure, with investors potentially salivating at the chance for more stimulus. For now both the DAX and CAC are up round a percent, the former crossing 10300 for the first time in nearly a week.
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