Spreadex Market Update
U.S stocks lagged as a decline in oil prices weighed on the markets.
Oil prices fell by $1 as Brent Crude reached $39.2 a barrel. Oil had been enjoying a stellar 2 month period, rising more than 45% since mid-February. OPEC meets next month to discuss an output freeze in an attempt to support prices, however while Iran is expected to attend, many believe Iran will not take part in negotiations.
Investors continue to wait for Federal Chair Janet Yellen to speak on “Economic Outlook and Monetary Policy” at 16:20 GMT. Recent policymaker comments have been more hawkish than what came out of the March meeting, which was more dovish than many expected. This has resulted in some confusion as analysts bemoan “mixed messages.”
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