Things continued to chug along at a rather stagnant pace this Tuesday, investors holding off on doing anything until they get a glimpse at Philip Hammond’s Spring Statement.
While the Chancellor might not have any surprises lined up, it appears that investors are unwilling to make any movements without getting a gauge of how the UK economy is holding up in the current pre-Brexit limbo. That’s left the FTSE effectively unchanged at 7215, with the pound slipping 0.1% against both the dollar and the euro.
As for the eurozone indices, they were a bit freer this Tuesday (though admittedly at the same time they didn’t have much to work with). The DAX nudged 0.1% higher, while the CAC managed a respectable half a percent increase, one that allowed the French index to just about cross 5300.
Looking to this afternoon and the US has something that may well rival the UK’s Spring Statement for its market-moving abilities. The country’s latest inflation reading is expected to fall from 0.5% to 0.2% month-on-month, something that may further ease the market’s interest rate concerns following last Friday’s wage growth miss. Currently the Dow Jones is facing a 50 point increase after the bell, though that figure is likely to change once the pre-open inflation figures are released.
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