Spreadex Market Update
Tuesday, June 09, 2015 - Evening Market Update
Dull déjà vu as Eurozone falls on Greece, US markets down on dollar
There was very little chance of the Eurozone
completely reversing its losses this afternoon; however the continued weakness of the euro helped calm some of the region’s more extreme declines as Tuesday continued. Not that this meant there was any more progressed on the dreaded ‘G’ word. There appears to be increasing, if not official, acceptance that the latest proposal submitted by Greece isn’t up to scratch, as if it was ever going to be, despite some mild, if ultimately insufficient, concessions made in regards to primary budget surpluses. The EU/Latin American summit tomorrow will, of course, provide another chance for Tsipras to meet with Merkal and Hollande; yet the chances of progress remain dim. The end of June feels both ominously close and frustratingly far away.
Another piece of US data
, another mixed reaction. JOLTS job openings came in higher than expected, but couldn’t help boost an already strong dollar, which had already spent most of the day slowly taking back yesterday’s losses against the pound and the euro. This, of course, wasn’t the best news for the Dow Jones
; however, the mild nature of the greenback’s growth left the Dow more lifeless than loss-filled.
And what of the FTSE
? The UK index is on track for its fourth day of losses in a row, and its seventh out of the last eight consecutive days of trading. If its losses continue tomorrow, and with the current climate is more than a mere possibility, the FTSE could be pushed to a price not seen since the middle of March; if the situation continues all week, then traders could see levels not hit since back in January. The one saving grace for the index tomorrow will be the merciful return of significant data; manufacturing and industrial production alongside a NIESR GDP estimate may not inspire a huge turnaround, especially looking at analysts’ forecasts, but at least provide the chance of something different.Recent Posts:
Stock of the day 09/06/2015 - Eros International PLC/Krispy Kreme Doughnuts Inc
Afternoon Market Comment 09/06/2015
Morning Market Comment 09/06/2015
Evening Market Comment 08/06/2015
Stock of the day 08/06/2015 - Oxford Instruments PLC
For further information on the trading day ahead, take a look at our Financial Diary
, which previews all the Economic Data due out to today and projected or previous figures.
Our Financial Diary is updated in real time as the figures are released throughout the day.
If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide
For a look at the trading week ahead our Financial Diary also lists all the companies due to submit trading updates this week. Each Friday, our diary will preview the forthcoming week's economic indicators and company reports schedule.
For market trends and analysis, don't forget our charts have automatically generated support and resistance trend lines helping aid your financial spread betting
with technical analysis. For more help on using our charts, view our Guide to Trading with Charts
Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone so please ensure you fully understand the risks involved.
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