Spreadex Market Update
Asian markets started the week in positive territory
Asian markets started the week in positive territory, pinning high hopes on China stimulus. With recent data showing the Chinese economy is not performing as well as hoped, investors are holding onto speculation China would take steps to stimulate its economy. European futures are scheduled to follow suit, indicating a higher open ahead of a speech from Federal Reserve Chair Janet Yellen.
The euro remained near a one-month low ahead of data later today which could show inflation slowed within the currency’s region. Analysts believe CPI estimates are likely to come in at 0.6%, falling from 0.7% last month. With the slowdown of the economy, this could paint a stronger case for the European Central Bank to introduce further stimulus measures.
Crude futures remained steady with WTI on track for a quarterly advance following Ukraine and Russia tension. Following a four hour meeting yesterday, US secretary of State John Kerry has announced no breakthrough on Ukraine. WTI futures continue to trade near the highest close in three weeks.
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