Spreadex Market Update
European stocks continue to trade higher
European stocks continue to trade higher, rebounding from yesterday’s losses following a number of positive results from Apple, Facebook and Caterpillar which beat analysts’ estimates. US futures advanced ahead of the open, helped by technology shares and better than expected core durable goods orders. However, more Americans filed applications for unemployment benefits than forecast with the Easter holiday period likely to distort figures. Durable goods orders increased 2.6 percent, exceeding the 2.1 percent estimate, in the biggest gain since November.
The euro gave up all of its early gains to trade 30 points lower against the dollar after European Central Bank president Mario Draghi indicated the risk of asset purchases to tackle deflation risks. Draghi comments showed the ECB could embark on broad-based asset buying plan if the euro zone inflation outlook worsens.
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