Spreadex Market Update
US equities have continued to perform
US equities have continued to perform well; the Dow has steadily risen up 48.5 points today to 17049.9, with news of Hewlett Packard splitting into two separate companies into a computer and printer business and a corporate hardware and services operations company. HP shares have risen 4.4% on the open up to $36.70. Yahoo! along with HP has experienced gains as the company announces future investment of millions into Snapchat.
After sliding to a 2-year low the Euro has stabilised after continuous losses against the dollar. Spot EUR/USD has risen 0.0044 to 1.2563, this optimistic signs for the Euro which struggled last week as investors frantically sold off the DAX. Sterling has also managed to cling onto where it began last week edging its way past 1.6 dollars to the pound, this a 0.2% rise during today’s trading.
Gold has also recovered this afternoon as the dollar’s surge against major currencies begins to tail off. Gold is now gained 0.7% to just climb over the 1,200 mark.
The DAX showed real promise at the open this morning but has shied away during this afternoon’s session, down 15 points, to 9208.5 since the open. Probably showing that the early dreadful results didn’t shock investors to cause a sell off but now the DAX is on a steady slide.
Taking a look ahead, investors will have a keen eye on the manufacturing production results that come out tomorrow morning which are forecasted at 0.2%.
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