Spreadex Market Update
FTSE futures remain little changed following a two day rally
FTSE futures remain little changed following a two day rally as investors remained stagnant ahead of comments from Federal Reserve Chair Janet Yellen. Geopolitical concerns in Ukraine continue to intensify in the background after the country’s forces failed to withdraw from Crimea after the region voted to join Russia. Russian President Vladimir Putin signed a treaty to make Crimea part of Russia and although this has gone down reasonably smoothly, investors are concerned that tensions could easily escalate.
US futures are trading with small gains ahead of the Federal Open Market Committee and press conference. The Fed is not expected to deviate from its policy path, continuing to reduce their bond-buying programme. Although a reduction in their bond buying programme is priced into the markets, market participants will keep a close eye on any comments of future cuts as well as any sign of an interest rate hike.
British unemployment rate remained steady, coming in at 7.2 percent. The rate was identical to that figure announced in February the office for National Statistics said in London today. Monthly jobless claims narrowed, falling 34,600.
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