Spreadex Market Update
Markets tentatively positive after yesterday’s mayhem
The FTSE ended up being the biggest loser on Thursday, failing to stall its losses as oil began to recede from yesterday’s recent highs, leaving the UK index to flounder. A slight rise in the Nationwide HPI provided the FTSE with a slither of good news at open this morning as it meekly stuck its head out of its shell and began to post some marginal gains. However, dips by oil and copper have led to falls in those sectors, a notorious weak spot for the FTSE and something that may harm its progress as Friday continues.
The most significant point of interest for the FTSE this morning will be Bank of England’s Governor Carney’s comments later today. After Andrew Haldane and Kristin Forbes both stated that inflation could turn negative next month, with chances of a further rate cut if this negative trend persists, it will be interesting to see what Carney says in response to these claims.
If the FTSE suffered the most on Thursday, then the Eurozone dealt with the day’s dour trading atmosphere remarkably well. After spending most of the day deep in losses, the Eurozone indices managed to recover before closing time, ending at the slimmest of gains. This left them in a better position than most this morning, ensuring that the DAX and its peers could put more ground between them and yesterday’s disaster.
The US markets, whose mid-week plunge was the original catalyst for Thursday’s flailing, managed to outperform the FTSE, leading to only minor losses by the end of the day. However, the dollar continues to make the pound and the euro pay for daring to make gains yesterday morning, leaving the US futures in a precarious position. The US is the only region with any real economic news today, with final GDP and revised UoM consumer sentiment; given the market reaction to the last piece of bad US data, investors will be hoping for some good news.
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.
