Spreadex Market Update
Muted morning as investors avoid risk until after Fed statement
Yet beyond the latest UK retail sales figure, coming in at 0.2% against the 0.1% expected, there was little for the European indices to work with anyway. This meant the FTSE continued to drop by around 25 points from the open, with the DAX and CAC barely moving on the day. Cable and the euro-dollar, meanwhile, were tentatively up as forex investors erred on the dovish side as lunchtime approached.
The US futures, unsurprisingly, adopted the same wait and see tone as the European markets, remaining at the 4 week high reached by the end of Wednesday’s American session. Unlike the their European counterparts, however, the US markets actually have some i’s to dot and some t’s to cross before the main event, as the final wave of data before the Fed’s decision is announced arrives this afternoon.
Building permits are expected to see a slender increase to 1.15 million, whilst the current account deficit is forecast to shrink to $111 billion from $113 billion and the Philly Fed manufacturing index is set to fall to 6.1 from 8.3. Arguably the most relevant piece of data this afternoon is the week’s jobless claims number, forecast to remain at around the 275k posted last Thursday. And whilst these figures will likely hold no sway over the outcome this evening, for clarity-hungry investors that could provide a final hint of the central bank’s direction before Yellen puts everyone out of their misery this evening.
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.
