Spreadex Market Update
Mixed trading ahead of non-farms
European shares are trading mixed ahead of the all-important non-farm employment change figure due out this afternoon. The German DAX is up 16 points whilst in London; the FTSE is lagging slightly, currently trading 18 points lower.
The euro has slightly rebounded however this has only regained a fraction of the losses seen yesterday where the currency dramatically tumbled off the back of an unexpected interest rate cut by the European Central Bank. EUR/USD is currently trading below the key 1.3000 level at 1.2950.
Markets may be particularly twitchy today ahead of the non-farm payroll data this afternoon as investors look to shift positions ahead of the figure. The payroll data is expected to come in at 226k, up from the previous figure of 209k.
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