The FED released a slightly more dovish minutes for the April meeting
Mansur Chowdhury May 17, 2012 3:14 PM
<p>As expected, the FED released a slightly more dovish minutes for the April meeting, indicating that further easing can’t be ruled out. Coupled with the […]</p>
The video cannot be shown at the moment. Please try again later.
- As expected, the FED released a slightly more dovish minutes for the April meeting, indicating that further easing can’t be ruled out. Coupled with the Greek situation worsening, the market sentiment remains weak this morning.
- FTSE is currently lower 30 points at 5370, lowest levels since late December, the DAX lower 33 points at 6350 and the CAC lower 20 points at 3030.
- The decline in the main UK Index is led by banking, as it appears investors are still reacting to the eurozone problems. Lloyds the worst performers in the banking sector this morning, down 2% at 28.1p.
- Miners are also mainly in the red with Vedanta Resources the biggest faller in the FTSE this morning, after reporting their earnings were impacted by lower attributable profit from subsidiaries. They’re down 3.5% at 989.35p.
- ICAP are the biggest risers, up 3.2% at 347.30p after receiving a UBS upgrade from sell to neutral.
- In commodites and currencies, gold is slightly higher by 0.3% at 1547.53, so showing a bit of a bounce after being in freefall since last week. US Crude Oil is up 0.5% 9338.
- The dollar index is also strengthening slightly against major currencies, with EUR/USD at 1.2716 down 0.1% and the cable at 1.5896 down 0.2%.
- Main economic data to watch out for would be the weekly jobless figures from the US, later this afternoon.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.