Spreadex Market Update

Euro skittish ahead of ECB meeting, Dow Jones looking at quiet open



Though displaying more movement than just after the bell, the markets are clearly still waiting for word from Mario Draghi and his ECB cohorts.

Unsurprisingly the euro was the site of the most interesting shifts. The single currency dropped 0.3% against the dollar and 0.1% against the pound as the day went on, perhaps fearful that the central bank chief won’t sufficiently tweak his message at this month’s meeting. As for the Eurozone indices, they were a bit of a mixed bag; the DAX fell 0.3%, in part reacting to a far worse than forecast German factory orders readings, while the CAC managed to re-cross 5200 with a 0.3% increase.

With no horse in this race the FTSE sat flat at 7160, lacking any reason to do otherwise. Sterling, meanwhile, wasn’t much interested in anything either, dipping 0.3% against the greenback and that’s about it.

Looking to the US open and, after avoiding the kind of gory session initially promised by the index’s futures on Wednesday, the Dow Jones is set to slip by 0.1% this afternoon. That’s basically nothing when taken in the context of the last few days, and suggests that investors – for now at least – investors have calmed down over the trade war furore.

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