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Spreadex Market Update

Tuesday, September 02, 2014 - Morning Market Update
Lee Mumford
Lee _Mumford _100x 100

European futures are indicating a higher open

European futures are indicating a higher open following a fairly positive session in Asia as investors place bets ahead of UK construction and US Manufacturing PMI’s. Developments in Ukraine are likely to continue to play on investors’ minds after Ukraine’s defence minister accused Russia of launching a “great war” that could claim tens of thousands of lives. Despite the news, Gold extended its decline from a one-week high, dropping for a third day as investors weighed the strength of the global economy against the tensions.

The euro and the pound were under pressure during early hours of trading, trading near session lows. With a strengthening dollar weighing on the two currencies, investors will likely to continue to tread cautiously ahead of the all-important rate decisions on Thursday. The Yen weakened overnight, coming within 0.6% of its five-year low amid speculation Prime Minister Shinzo Abe will appoint a close ally to take charge of reforming the nation’s pension fund. The new health minister will oversee 127.3 trillion yen Government Pension Investment Fund (GPIF), the world’s largest pool of retirement savings, likely to appoint asset allocations this fall. Japanese stocks jumped on the news whilst triggering selling in the currency.

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.

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?


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