Spreadex Market Update
European markets continue to drag
European markets continue to drag with US stock futures indicating a negative open as investors took to the side-lines ahead of US jobless claims. The data did little to help markets despite both Retail Sales and Unemployment claims beating estimates. Industrial metals have been under heavy selling pressure after Chinese data overnight showed that manufacturing contracted.
Applications for US unemployment benefits held near a six-week low, showing firings remain muted following the holiday. Claims rose by 1,000 to 326,000 in the period ended Jan 18th, beating estimates which projected 5,000 additional claims to 330,000.
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