Hesitancy reigns in markets as a fresh trade spat between the US and Europe looms, while the clock ticks down to a key European Council meeting.

  • Equities little-changed so far

  • Trump turns his focus to Europe

  • Debenhams heads towards administration

A potential Brexit extension, a looming ECB meeting and an apparent ramping up of trade tensions between the US and Europe have all conspired to keep markets in check this morning. Small gains are in evidence in Europe, and in London the FTSE 100 is marginally in positive territory. The EU appears to be willing to grant the extension that the UK craves, but it needs to see evidence that Westminster has done its homework. Despite days of talks between the Conservatives and Labour, there has been little real progress, fuelling suspicion that both sides are merely playing for time, one commodity that is in short supply. Hopes were high last week that trade tensions between the US and China were being resolved, but now the president appears keen to reopen the battle with Europe even before the one with China is resolved. Such a development is not likely to be positive for risk assets, especially after such a strong run and ahead of a vital season for earnings.

The Sports Direct/Debenhams saga looks to be at an end, as the shares are suspended from trading pending a likely CVA. Ashley’s bid to control another chunk of the high street was always going to be a tough one, given the clash of cultures, and the loss of his stake will be a lesson in hubris for many traders and investors. As the UK concentrates on Brexit, the news is yet another reminder of the crisis facing many parts of the country outside London.

Ahead of the open, we expect the Dow to start at 26,301, down 40 points on Monday’s close.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Recommended Content


Recommended Content

Editors’ Picks

GBP/USD holds above 1.2600 after strong UK inflation data

GBP/USD holds above 1.2600 after strong UK inflation data

GBP/USD holds steady above 1.2600 in the European morning on Wednesday after the data from the UK showed that the annual CPI inflation climbed to 3% in January from 2.5% in December. Market focus shifts to mid-tier US data and FOMC Minutes.

GBP/USD News
EUR/USD holds positive ground near 1.0450, FOMC Minutes in focus

EUR/USD holds positive ground near 1.0450, FOMC Minutes in focus

The EUR/USD pair posts modest gains to around 1.0450 during the Asian trading hours on Wednesday, bolstered by the weakening of the US Dollar. However, tariff concerns and tense Russia-Ukraine negotiations might boost the Greenback and cap the upside for the major pair. 

EUR/USD News
Gold price recovers early lost ground; holds steady near record high amid trade war fears

Gold price recovers early lost ground; holds steady near record high amid trade war fears

Gold price attracts some dip-buying as trade war fears continue to underpin safe-haven assets. Fed rate cut bets keep the USD bulls on the defensive and further lend support to the XAU/USD. A positive risk tone might cap the commodity as traders await the release of the FOMC minutes. 

Gold News
Maker Price Forecast: MKR generates highest daily revenue of $10 million

Maker Price Forecast: MKR generates highest daily revenue of $10 million

Maker (MKR) price extends its gains by 6%, trading around $1,189 on Wednesday after rallying more than 20% so far this week. Artemis data shows that MKR generated $10 million in revenue on February 10, the new yearly high in daily revenue.

Read more
Rates down under

Rates down under

Today all Australian eyes were on the Reserve Bank of Australia, and rates were cut as expected. RBA Michele Bullock said higher interest rates had been working as expected, slowing economic activity and curbing inflation, but warned that Tuesday’s first rate cut since 2020 was not the start of a series of reductions.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Majors

Cryptocurrencies

Signatures

Best Brokers of 2025