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Spreadex Market Update

Tuesday, September 15, 2015 - Afternoon Market Update
Connor Campbell - Market Analyst at Spreadex

UK inflation falls to zero, sharp decline in Eurozone economic sentiment, wave of US data to come

As expected UK inflation fell back to zero for the 4 month this year, with the finger pointed at falling oil, food and clothing prices. Whilst it was no surprise, the news didn’t seem to improve the mood of investors, with the FTSE quickly becoming the worst performing European index of the day as it dropped by nearly 50 points. It also failed to provide any clarity as to what the Bank of England should do in regards to interest rates; the British Chambers of Commerce called for rates to remain unchanged, whilst the Institute of Directors urged the central bank to initiate lift off.

The Eurozone indices didn’t fare much better, receiving their own dose of disappointing data without any sugar to help the news go down easily. The German ZEW economic sentiment figure came in at 12.1 against the 18.3; a big miss, and even more damning considering that number is less than half of the 25 posted last month. The region-wide figure, meanwhile, fell to 33.3 against 42.1 expected, and 47.6 last month. And whilst these figures reflect the chaotic nature of August, that fact didn’t soothe investors, causing the DAX and CAC to both fall by over half a percent.

The day’s data doesn’t slow down this afternoon, with a wave of US figures that will not doubt provide little clarity as to what the Fed will do on Thursday. Retail sales growth is expected to have halved, whilst industrial production is expected to turn negative and the capacity utilization rate is forecast to fall. The Empire State Manufacturing index, however, is expected to improve, though that isn’t saying much considering it hit a 6 (and a bit) year low last month.

Recent Posts:
Morning Market Comment 15/09/2015
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Afternoon Market Comment 14/09/2015
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Weekend Paper Roundup 14/09/2015

The Trading Day and Week Ahead

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.

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