Spreadex Market Update
Markets trade prudently
Despite this, since a deal has not yet been agreed between Democrats and Republicans investors are still cautious about taking on too much risk as over the next few weeks there is still the risk that any news headline which indicates that a deal is far from being agreed could reverse recent gains within the equities market.
Furthermore, unsurprisingly, a speech earlier today by ECB president Mario Draghi failed to ignite investor’s sentiment despite Draghi’s confidence that the Eurozone would begin to recover during the latter period of 2013. However, one could argue that Draghi is failing to take into account the fact that data has shown that unemployment as a whole in the Eurozone is perpetually setting new highs.
Thus, economic gains within Eurozone powerhouses like Germany are unlikely going to be enough to compensate for poor economic output in debt ridden nations like Greece and Spain.
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