European spread trading markets awake to a generally negative bias to risk assets this morning, with Moody’s criticising the actions of Eurozone leaders last week to the on-going debt crisis as providing no new solutions.
Early trading today reflects this sentiment, as inflationary concerns are so far replaced with that of growth; cash-settled gold contracts trade some $30 dollars lower in sympathy of a darkening outlook.
Financials and basic materials weigh on equity indices so far, noting real concerns to output from China and further scrutiny to European banks’ creditworthiness.
With a distinct lack of economic figures published today, the FTSE 100 will turn to Mervyn King’s words for volatility.
Article by Spreadex.
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