Republicans Refuse Deficit Plan - 29th July, Market Update

Fiona Cincotta of City Index (http://www.cityindex.co.uk/) brings you the latest market news affecting your financial trading. Headlines include: - FTSE down 30 at 5840, tracing falls on Wall Street and Asia overnight. - Continued possibility that US could default on its debt. - Last night some republicans refused to back a budget deficit plan proposed by their own congressional leader. - Given the deadlock, traders are likely to be risk averse heading to the weekend. - European debt worries also revived after rating agency Moody's placed Spain AA2 rating on review for possible downgrade. - Macro economic data today: 13:30 US GDP 13:45 US PPI 14:55 University of Michigan Sentiment Spread betting and CFD trading are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.