Spreadex Market Update
European equities remain soft this afternoon
European equities remain soft this afternoon, with the FTSE 100 and Dax indices both drifting lower ahead of the much-awaited ECB report due out tomorrow. Earlier today, the market reacted to a worse-than-expected print to the ADP payroll change. Expectations were for there to be an increase of 217k on the month previous, which were left lagging against the 179k actual. The market duly reacted, with risk appetite for equities tempering to the downside. The Dow is now down by 30 points.
But investors will be holding out for the week’s main event: ECB and non-farm news flow. It’s likely that risk appetite and sentiment in the near-term will be influenced significantly by the outcome of both events. If the ECB decides to undergo a more aggressive position with respect to combatting inflation, participants will be looking to see how much has already been reflected by prices.
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