Spreadex Market Update
08.11.12 Thursday Morning
Thus, aside from the opportunistic buyers preying the markets this morning, investors are clearly concerned with the current state of the US economy as well as the impending ‘fiscal cliff’. Although bears have taken a step back from dominating the markets this morning and allowing bulls a moment in the spotlight, the possibility that the US economy may fail to avoid the negative effects of the cliff, which involves tax rises and cuts in government spending, should remind investors that bears could quickly return as the dominant force within the markets.
Another ECB press conference is due today. The Greek parliament approved the latest austerity package, but by a narrow margin. Consequently, as is the case with many of the ECB conferences, investors are likely going to receive vague information concerning the next plan to tackle the eurozone debt crisis and therefore little in the way of inspiring investor’s confidence.
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