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As it has done for the last fortnight or so, the FTSE basically yawned its way through the morning session, the index dipping by around 5-10 points to loiter just above the 7250 mark. Considering its only 100 points or so away from its record highs the index ain’t half dull at the moment – it is lacking a real sense of direction, with investors seemingly not confident enough in its current levels to push it on to a fresh record peak. The pound was just as dreary as the day went on, with sterling slipping 0.1% against the euro and sitting flat just under 1.245 against the dollar.

It was much the same in the Eurozone, where solid data from France wasn’t enough to counter the political worries in the region, leaving the DAX and CAC to fall 0.2% and 0.1% respectively. Everything is just a bit stagnant, investors not willing to make any major moves until Trump reveals what he has in store for the US economy.

And even that will have to wait, President Blowhard not speaking until late Tuesday evening/early Wednesday morning (dependent on when you go to bed). Instead the markets will have to make do with a few pieces of key data from the US, namely the 2nd estimate Q4 GDP reading and the CB consumer confidence figure. The former is set to be revised higher, from 1.9% to 2.1% at the annualised rate, while the latter is expected to dip to 111.3 from 111.8 month-on-month. Both will likely be viewed through the filter of March’s Federal Reserve meeting, investors on the lookout for anything that might sway the central bank towards a rate hike.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Connor Campbell

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.


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