Spreadex Market Update
European markets continue to trade in negative territory
European markets continue to trade in negative territory, although rebounding from today’s lows, as tension in Ukraine weighs on the markets. Lawmakers in Crimea may vote on the status of the country after Russia ordered a series of surprise military exercises along its border with Ukraine late yesterday. Protesters in Crimea, a Black Sea peninsular attached to the rest of Ukraine, has become the last major stronghold of resistance to Ukraine’s new rulers. With the latest changes in Kiev, protesters and now trying to exploit the chaos and press demands for Russia to reclaim the territory.
Data from the US has shown that Core Durable Good Orders unexpectedly rose last month to 1.1% versus -0.1% expected. The suppressed increase reflected a surge in orders for computers and electronic products, fabricated metal products and defence capital goods. US jobless claims figures have shown that more Americans than forecast filed applications for unemployment benefits last week. Claims increased to 14,000 to 348,000 with many expected an increase of 334,000.
Federal Reserve Chair Janet Yellen will address the Senate Banking Committee in a semi-annual testimony about monetary policy later today. The appearance, which was meant to take place on February 13th, will hopefully give investors insight into how an unexpectedly harsh winter has impacted economic activity.
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