Global Equity Indices Stabilise
Financial Market Comments from Philip Gillet, Sales Trader, IG Index.
Coming up to 11am (London time), the FTSE is slightly lower on the day, with downward pressure coming from banks and miners.
The markets are once again trading in a tight range after the FOMC decision last evening.
There was very little surprise in their assessment that rates should be kept on hold; after all, housing data from the US has only just started to show any sign of recovery, with mortgage applications coming off their 7-month lows last week.
The market seems unconvinced though, to-ing and fro-ing like a caged animal waiting to break loose.
Global equity indices have found stability, but attention now seems to be focusing on the longer-term problems building up, like deflation and rising global unemployment.
This issue leads us to the US, where jobless claims are published this afternoon. There were signs that the US job market was starting to stabilise last week, with an improvement in weekly jobs figures.
Traders will be looking for further signs that the jobs market is staging a recovery and that the more positive noises coming from the FED are well founded.
Also see Indices Spread Betting.
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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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