Spreadex Market Update

Tepid start despite Trump’s Fed-hectoring; pound unconvinced by Boris confidence



Unable to justify another day of gains, the European markets moved sideways after the bell, at most eking out a smidge of growth here or there.

Helping to keep the indices on the right side of the green/red divide were Trump’s latest attempts to bully the Federal Reserve into another rate cut. The President decried the ‘horrible lack of vision by Jay Powell’ and his colleagues while calling for ‘at least’ a 100 basis point decrease in interest rates over the coming months. Wednesday’s meeting minutes and the Jackson Hole Symposium, starting on Thursday, may give investors an idea as to how receptive the Fed is to Trump’s hectoring.

As mentioned, this hardly recreated yesterday’s stimulus-optimism, but rather allowed the European indices to protect their recent gains. The DAX was unchanged at a near week-peak of 11700, while the CAC scraped together a 0.1% rise as it teased 5370.

More robust was the FTSE, which added 0.3% to give itself a bit of breathing room above 7200. The main reason for this, however, seemed more to do with the pound than any central bank speculation. Sterling fell 0.4% against the dollar, taking cable back under $1.209, and 0.3% against the euro, leaving it at €1.091, as it expressed its lack of confidence in Boris Johnson’s ability to get the EU to budge on the issue of the Irish backstop.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Economic Diary

22.04.26

Read More

Financial Trading Blog

FTSE 100 Under Pressure From Oil Ahead of CPI, Sainsbury's Earnings

Read More

Economic Diary

21.04.26

Read More

Weekly Technical Analysis

Weekly Technical Analysis

Read More

Financial Trading Blog

Nasdaq At Record Highs Ahead of Tesla, Intel Earnings

Read More

Daily Market Update

20.04.26 Monday Morning

The S&P 500 edged lower in thin trading after record highs as investors weighed renewed US-Iran tensions and...

Read More

DISCLAIMER


Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.

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.