Spreadex Market Update
Euro futures indicate lower equities
Cyprus banks are set to reopen today for the first time in two weeks. Cypriots are expected to descend in their thousands as savers panic and scramble to get their cash. However, tight controls will remain on withdrawals to prevent a potential bank run.Data this morning from German showed that retail sales unexpectedly increasing, offsetting renewed concern that the euro area’s debt crisis will deepen.
Gold continues to head for the worst quarterly run since 2001 as holdings in exchange-traded products fell by the most on record and the dollar climbed on prospects for a US recovery.
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