Spreadex Market Update
Hong Kong's dwindling protesters leads to positive trading session.
FOMC minutes were announced yesterday evening having positive effects on the majority of major global indices. Hence the conclusion that the fed would stamp out the notion of a hike in interest rates to combat inflation, this less hawkish approach than expected along with a downgraded growth outlook has brought some relief to the sliding pound sterling. GBP/USD is now up 0.0015 to 1.6175, this is a welcome break to last week’s depreciation to less than 1.60.
Asian equities are poised to bounce, with positive news from Wall Street as the S&P also had its largest jump this year. Hong Kong have seen the number of protestors for pro-democracy dwindle and consequently leading to a positive trading session overnight as the Hang Seng rose 242 to 23,444.
Following a poor trading day yesterday the FTSE and DAX have opened up, with the recently more volatile DAX opening up 87.5 points to 9095.5 with the euro-dollar on the up side of 1.2750 this morning. However with news out at mid-day, in regard to the Bank of England’s Official Bank Rate, many investors anticipate no change to the 0.5% level so any increase could create a cause for optimism for the economy.
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