Spreadex Market Update
FTSE opens with upside move on US optimism
FTSE opened this morning with a slight move to the upside following a push upwards in Asia overnight on the back of optimism that the US and China will do more to support their economies. The markets will be eyeing Bernanke’s testimony intently today looking for any sign of further stimulus and we could potentially see the market react positively to such news.
With a wealth of data out today there is a lot for spread-bettors to keep an eye on. CPI figures from the US and UK as well Economic Sentiment figures from Germany and the Eurozone and the fact that Mervyn King will also be speaking at 10am mean that we could have a choppy day of trading depending on how the figures come out, however most of the movement is likely to occur once the US markets open at 2:30pm.
Rio Tinto is currently down 1.3% after sales fell short of output, which has heightened concerns about cooling Chinese demand. IG Group is also down 0.67% despite profits beating market expectations.
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