Top Story

FTSE and European Markets lower

The prospect of a pre-Christmas general election, an expected rate cut from the Federal Reserve and stalling of the Sino-US trade talks cast a cloud over European trading this morning, pushing the FTSE, the DAX and EuroStoxx lower.

One bright spot was the car sector with Fiat Chrysler and Peugeot making their merger talks public. Shares in clothes retailer Next took a 3% hit after the company said that it will keep its annual guidance unchanged despite stronger October sales.

Dollar slides ahead of Fed, GDP data

The dollar is on the back foot against the euro and the yen as the Fed prepares to go into the second day of its rate setting meeting. The markets are treating a 25 basis points rate cut this afternoon as a done deal but what will be of interest is to see if the Fed’s Jay Powell will confirm, as investors expect, that the central bank will pause its rate cutting for the moment.

A UK pre-Christmas election now seems to be almost certain, awaiting one final vote in the Lords. The only thing that is certain now is that the UK is not leaving the EU before the end of the year, and all other options are up for grabs. Sterling has firmed a touch against the dollar, trading at $1.2877, and is flat against the euro.

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

The markets are moving. Stop missing out.

OPEN AN ACCOUNT