Spreadex Market Update
GBP/USD has been falling at a steady rate
GBP/USD has been falling at a steady rate over the past week, the news of the US growth appreciating the dollar and now the UK Nationwide Building Survey HPI in at -0.2%, beneath the 0.6% predicted rise in house prices may be creating downward pressure on the pound.
FTSE opened down 4 points at 6645.62, investors will be looking at the current account announcements later this morning.
The Dax is looking to recover some of its losses from yesterday, up 0.1% this morning, as good news of German retail sales has been announced. The future announcements of sales within other countries within the EU are likely to have an effect on the euro which is down at 1.2689 against the dollar.
With continued geopolitical tensions in Hong Kong as investors wonder what China’s response will be to the civil unrest in Hong Kong. Asian markets have continued to fall albeit at a slower rate, affecting the majority of markets as investor confidence is upset.
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