Spreadex Market Update
European stocks rebound from their lows
European stocks rebounded from their lows, supported by better than expected UK construction PMI and Spanish unemployment data. The DAX turned positive to trade 3 points higher whilst the Dow Jones indicated a 5 point higher open. Crude remained under heavy selling pressure with WTI dipping below the key $90 level. Crude traded near the lowest price in more than 17 months after government data showed crude inventories expanded for a second week. Brent was also in decline, trading at $92.
Mario Draghi is set to take to the stage during the European Central Bank press conference shortly. This comes after the ECB chose to keep interest rates at 0.05% after unexpectedly lowering them last month. President Draghi pledged to start buying asset-backed securities this month as he seeks to ward off deflation and ignite the stagnant economy.
Weekly unemployment claims exceeded estimates, coming in at 287,000 versus 299,000 expected. This was an 8,000 decrease since last week’s figure, sending the dollar temporary higher.
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.
