Trading in Asia last night was relatively flat as financial spread trading investors eye up the US Non-Farms payrolls coming out this afternoon.
However the UK economy is set for a modest contraction this year according to the national institute for economic and social research, as it downgraded its forecast for 2012 to -0.1% growth for 2012.
If accurate the worries of a double dip recession will soon become reality as the UK struggles to maintain growth among a flaky at best European economy.
All eyes will be on the US job figures this afternoon, with any positive figure helping push this current rally even higher. The economy is steadily gaining traction, however, this should not be taken for granted as it seems the hill which is Europe could suddenly get a lot steeper.
Article by Spreadex.
CFDs, Forex and Financial Spread Trading carry a high level of risk to your capital and can result in losses larger than your initial stake/deposit. These forms of trading may not be suitable for everyone so please ensure you fully understand the risks involved. Where necessary, seek independent financial advice.
This BillionforGovernor.com is only intended for those persons of 18 years of age or older.