Excerpt from: European Markets
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| July 02, 2009 | | Spread bets and CFDs on interest rates | Spread betting and contracts for differences on ECB rates should consider that they are still steady at 1%. Indeed, 1% is widely thought to be the floor for the European Central Bank, with the euro zone refusing to follow the U.K. and the U.S. in rates approaching 0%.
The non-move was widely expected, and the ECB's rate decision is not likely to have much impact on other markets; it's already been priced in. However, ECB president Jean-Claude Trichet is expected to share the euro zone monetary leadership's view of the economy later today. That speech is likely to have more of an effect on European markets.
Right now, the euro is lower in forex trading, thanks to economic data and to concerns about economic recovery. European stocks are also in retreat today, after starting the 3rd quarter enthusiastically yesterday.
| Topic Tags: CFDs, contracts for differences, ECB rates, euro zone, Jean-Claude Trichet, spread bets, spread bets interest rates, spread betting, spread betting ECB rates | |
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