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The main driver of movement, at least from a UK perspective, was the latest retail sales reading. Coming in at a far worse than expected -1.9% for December, the news of a comparatively weak Christmas season weighed on sterling, which shed half a percent against the dollar and 0.2% against the euro. This allowed the FTSE to post some mild growth, though the 0.1% increase it managed this morning leaves it a long way from the all-time highs was trading at on Monday.

Looking ahead to this afternoon and it seems unlikely that the US open is going to dramatically change the tone of trading. The Dow Jones is set to open 20 points higher, just above the intraday month and a half lows it struck during Thursday. It appears that Trump’s inauguration has drawn all focus this Friday, leaving little for the market to actually work with; perhaps investors should enjoy this moment of relative calm, however, given that things could be a lot more choppy once Trump is officially in charge.

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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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