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Spreadex Market Update

Monday, July 25, 2016 - Morning Market Update
Connor Campbell - Market Analyst at Spreadex

Meek open from FTSE as investors left with little to work with this Monday morning

With the vague committal from the countries at the latest G20 summit to use ‘all policy tools’ to lift growth post-Brexit there wasn’t much for investors to work with this morning, leading to a rather drab open for the European indices. The FTSE is holding above 6700, trading around 30 points above that landmark level but showing little sign that it is going to widen those gains any time soon. The pound, meanwhile, took around 0.3% back off both the dollar and the euro, though that still leaves sterling below those key 1.32 and 1.20 levels respectively.

Sentiment was slightly better over in the Eurozone, despite the multiple tragedies Germany endured this weekend. The DAX rose 0.3% to edge towards 10200, while the CAC jumped just shy of half a percent, hovering around the 4400 mark. Still to come is the German Ifo business climate reading, which is unexpectedly set to slip further into negative territory to -6 from last month’s -2 (though that would be an improvement in where it has been for much of 2016).

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The Trading Day and Week Ahead

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If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide.

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