Spreadex Market Update
Asian stocks were in decline overnight following a dreary US performance
Asian stocks were in decline overnight following a dreary US performance on Wall Street and ahead of a key US jobs report tomorrow. Figures from China showed that consumer prices rose less than expected and whilst Japanese consumer sentiment worsened in December. The markets were expecting a 2.7% in Chinese CPI yet prices only rose 2.5% in December. However, all is not lost as a worse figure could ease market fears of monetary policy tightening in China.
The US dollar touched a four-month high as signs of improvement in the labour market supported expectations the US economy will be strong enough to support a reduction in the Federal Reserve’s bond purchases. Further job data, in the form of unemployment claims, will shed further light on how well the economy is performing. We are forecasting an unchanged reading of 337,000 claims before the all-important Non-farm payrolls tomorrow.
No doubt investors will be focusing on the UK retail market after Tesco, Morrison’s and Marks & Spencer reported Christmas trading reports, with all three showing signs that Christmas remained tough. Tesco, the world’s third biggest retailer, posted a heavy drop in underlying sales in its main British market during the Christmas period. They reported a 2.4 percent drop in sales (excluding fuel and VAT sales tax) for the six weeks to January 4th.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
