Spreadex Market Update
Friday fails to spark into life as markets limp towards end of May
The FTSE was the only index approaching noticeable positive growth this morning, with not so insubstantial help from stocks like PayPoint and Zoopla helping the UK index outperform its Western cousins as the markets snoozes their way through the day.
Despite a much better than expected M3 money supply figure, another strong piece of data for the Eurozone this morning, the region failed to prevent widening losses as the day went on. Reports that Greece is back in a recession wasn’t the kind of news the Eurozone needed to help change the trading atmosphere this Friday; in fact, to really contextualise how bad things have got, Greece has performed worse since the financial crisis began than the USA did in the years following the Great Depression. It is no wonder, given such ominous statistics, that investors’ fears that Greece will be unable to meet the IMF repayment next week are dominating the discourse surrounding the region, with the usual damaging effects.
Investors continued to be wary of the US markets ahead of the latest first quarter GDP figure from the country. A mixed morning for the greenback is allowing the Dow to toy with the idea of posting some gains, and the prospect of a declining GDP estimate could provide dollar-drop the US markets need to regain the ground they have lost this week. However, as shown in the past, there is a threshold on how much bad news the markets are willing to take, and a truly disastrous GDP figure will likely not help the Dow Jones, even if the dollar begins to decline.
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.
