There wasn’t a whole lot going on this Wednesday, the European markets settling into a blandly positive morning.
The FTSE maintained a 25 point rise, an increase that left it stuck just above the same 7700 level it’s been at for over a week. The pound, meanwhile, held onto a 0.3%, fortnight high-hitting jump against the dollar, without being able to erase its 0.2% drop against the euro.
The single currency received something of a boost on Wednesday, as ECB member Peter Praet suggested that next Thursday’s June meeting would see the central bank signal the end of its stimulus programme. Though this sent the euro 0.4% higher against the dollar and up 0.2% up against the pound, it didn’t do much damage to the DAX, which itself managed to climb 50 points to tease 12850 once more.
Looking to this afternoon and the Dow Jones is all set to push forward with its recovery, the futures pointing to a 120 point increase when the bell rings on Wall Street. That would take the Dow back above 24900, its best price for more than 2 weeks, as investors continue to block out any talk of the trade tensions between the US and almost every ally going.
Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.