Financial Markets Wait for G20 and Durable Goods News
Financial Market Comments from Anthony Grech, Market Strategist, IG Index.
As the week draws to a close, the FTSE is struggling to lock in early gains and stay above that 5100 level.
It’s been a relatively quiet start to the session and with limited economic and corporate data due for release, attention has been largely focused on the forthcoming G20 meeting.
Specifically, any proposal to tighten banking regulation on a global basis could send repercussions through the financial sector, although on a more positive note, the petrochemicals sector is lending support despite the recent decline in crude oil prices as demand concerns weigh.
As the session progresses, attention will, without doubt, turn to the US where durable goods order data will offer an update as to the health of the country’s economy.
After yesterday’s big declines on Wall Street, the futures are pointing towards a stronger open, with the DOW tipped to start above 9700, but anything that gives traders cause for concern – and an unexpected decline in durable goods would do precisely this – could easily act as the trigger to take more money off the table ahead of the weekend break.
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Good Luck!
DB
The above comments do not constitute investment advice Clean Financial accepts no responsibility for any use that may be made of them.
Content provided by IG Index which is Authorised and regulated by the Financial Services Authority. FSA Register number 114059.
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