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ETX Capital Daily Market Bite, 27th February 2014: Markets Decline Amid Ukraine Worries
February 27, 2014 11:55 amVideo
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February 27th 2014, Daily Market Bite from Ishaq Siddiqi Market Strategist.
equities weaker again in Europe, gold trades lower too whilst core government bonds inch higher and FX markets remain range-bound on the whole. Traders in Europe continue to fret over Ukrainian tensions and China’s currency slumping as well as concerns about the country’s ballooning property market. Adding to this, US data continues to decline but from commentary by Fed officials and chair Yellen, it seems unlikely that the Fed will change course now on halting the tapering process.
Yellen will make her testimony later to US Senate which will undoubtedly steal the limelight in afternoon trade. Data out of Europe has been a little mixed — Spanish economy grew less than expected in the Q4, only up 0.2% – at the same time, we have had German unemployment data falling by around 14k in February — the rate is running around 6.8%; overall a decent result, indicating resilience in the German labour market. Looking ahead, we have German inflation figures, US durable goods orders and weekly jobless claims.
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