Spreadex Market Update
Asian shares traded higher on Tuesday
Asian shares traded higher on Tuesday with the Nikkei up 0.4% whilst Korean and Hong Kong markets were closed for trading due to a bank holiday. The US dollar was the main reason behind the gains as it smashed through a 6-year high level, trading above ¥106. A weaker Yen has benefitted Japanese exporters however has weighed in on the energy and commodity sector with Brent Crude falling to under $100 a barrel.
European bourses are looking to open lower again this morning with the FTSE down 12 points and the DAX down 30 points ahead of the open.
We have a fairly important day ahead which is getting kick-started by UK manufacturing production at 09.30 this morning, set to come in at 0.3%. Investors will then be eagerly awaiting Bank of England Governor Mark Carney to speak in Liverpool where he is set to discuss wages. Traders often use these public appearances to scrutinise his words to potentially gain further clarity and clues on the monetary policies and any changes in the future.
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