Spreadex Market Update
Uncertain times drive market volatility
Consequently, volatility remains heightened as markets attempt to discount unpredictable news flows.
The euro is currently trading at 22-month lows as money managers concerned about holding euro-denominated assets overshadow day traders’ speculative shorts, switching to dollar assets in an attempt to insulate portfolios from price shocks that could result from Greece leaving the eurozone.
On the open, European equities are firmer, with Germany-listed stocks reversing their notable underperformance against those London-listed as the euro manages a bounce.
Traders and spread bettors this morning are favouring high-beta sectors such as financials and tech, helping ARM, for example, trade for more than a fiver after what can be described as a dismal 1-month price performance. Recently discounted AV and EMG are also higher as bargain hunters view today as a safer climate in which to participate.
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