Markets are signalling a negative start to Friday after a mix sentiment day yesterday. Investor caution has kicked in again which is usually the reaction in time of uncertainty and a few bearish days without any clear outcome insight.
European and US equity markets saw a gain yesterday lead by banks on speculation that Greece might be able to form a coalition government without having the need for re-elections. Gains in the equity markets could also be attributed to technical buying with bargain hunting off the back of steep losses in the earlier few days.
Early indications suggest a risk day off day today with most investors holding on to their cash instead of leaving open positions over the weekend. There is some hope that the tides could turn on the last day of the week even if only for a short while with European commission releasing its growth forecast followed by University of Michigan Confidence Survey.
Posted by Khurram Ali | Account Executive (firstname.lastname@example.org)