Spreadex Market Update
The Dow Jones reversed the majority of its losses
The Dow Jones reversed the majority of its losses for the day yesterday evening as it headed into the close, cutting the harsh three day losing streak in its tracks. Asian shares gained as they took the slightly positive sentiment from the US, however this couldn’t be said for Japanese stocks. USD/JPY took a heavy blow throughout the night as Bank of Japan’s Mr Kuroda failed to hint at any increases in their QE programme, something which was highly expected by consensus. The Bank of Japan will continue its ¥60tn-¥70tn bond purchasing programme after inflation was said to be on the whole, rising.
We look set for a slightly stronger open on European markets than the previous few trading sessions, a sign that the dramatic sell off we have seen may have finally halted. With the economic calendar being thin throughout today, investors will be eagerly awaiting the FOMC Meeting Minutes which are due to be released at 19:00pm this evening
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