Eurozone GDP Data Weakens EUR/USD Spread Trading Market Ahead of G20
Having touched highs last seen in January 2008 earlier in the week, traders have been reducing their exposure at the end of a profitable five days.
As a result, at 10am London time, the FTSE was down eight points at 6319.
Yesterday’s Eurozone GDP figures saw equity markets wobble as the economic data contrasted wildly from what the recent confidence figures would have you believe.
Equities fared much better than the tumbling EUR/USD pair, and with Eurozone trade balance data due out this morning traders seem to be feeling less speculative.
Also, traders will be keeping a close eye on any comments made at the start of the G20 finance ministers conference in Moscow today. It is only a matter of time before someone either stimulates or derails market confidence.
Anglo American has finally managed to close the book on their ‘annus horribilis’ that was 2012.
Unsurprisingly, due to all their troubles, confirmation of a loss on the year was quickly shrugged off as they optimistically looked forward to 2013 and the dawn of new CEO Mark Cutifani’s management in April.
On the same day that it has been announced that water bills in England and Wales are set to rise by 3.5%, Severn Trent have announced full-year figures which are set to fall in line with market expectations.
Looking ahead to the US open, at 10am London time the Dow is being called to open down 22 at 13,951.
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Financial Market Comments from Alastair McCaig, Market Analyst, IG Index.
The above comments do not constitute investment advice and Clean Financial accepts no responsibility for any use that may be made of them.
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