Spreadex Market Update
Global bourses are trading flat
Global bourses are trading flat during early afternoon trading despite European unemployment and inflation rate figures being released late this morning. EU unemployment rate came in unchanged at 12% whilst EU inflation rate came in at 0.8%, up from the forecasted 0.7% figure. As European data failed to be the catalyst for any significant direct in the markets, investors will be closely watching this afternoon’s US GDP figure which came in at 2.4%, lower than previous. US pending home sales are also released this afternoon, forecasted to come in at 2.9%.
As the week draws to a close, the FTSE 100 is looking to close flat from the beginning of the week with no significant change on the week. Gold also looks like it has run out of steam this week, closing flat from Monday’s opening price. This comes after a month long rally from the precious metal which is now priced around $1331.
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