AM Analysis – “Asian bourses have been led higher” – David White
Asian Bourses have been led higher by news that credit availability has reached new heights in China, signalling strength lies within the tiger yet. Gold is enjoying one of its best runs in over six months, having dispensed with sellers at $1,300. The metal now trades at $1,327 for delivery in April.
European indices are set to open unchanged, with little acting to change prices from Friday. We’re calling the FTSE 100 at 6,672 and the Dax at 9,665.
On a day where not much is happening with respect to data points, the market will turn to corporate events and the BoJ for guidance as to risk appetite.
PM Analysis – “US markets are closed due to President’s Day” – Sam Fox
It’s set to be a quiet afternoon ahead as US markets are closed due to President’s Day. US equities are closed all day today, resuming normal opening hours tomorrow. US indices and the Nikkei will close at 16:30, light crude and metals will close at 18:15 and US interest rates and FX markets will close at 18:00.
The bulls are out in force today with the FTSE 100 up over 70 points led by the property sector. Shares in Hammerson are leading the index, up over 4% after the company reported a rise in full year profits to £326.3m for the financial year that ended on Dec 31.
The economic calendar is quiet today with no notable data being released, partly due to the bank holiday in the America however this will be back to normal tomorrow with a selection of GBP, EUR and USD data released.
[The original articles by Spreadex can be found here.]
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