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European Market Update 08 August 2018

Posted by Tim Sholl on 08-Aug-2018 22:03:18

Investors continue to focus on positive corporate earnings both in Europe and in the US , and trying to ignore any negative sentiment from the growing trade issues. Asian markets were lower as Chinese indices continued to react negatively to the trade war. European indices are all trading higher  with the FTSE boosted by the very weak GBP , at 7776 up 0.84% , the DAX is at 12681 up 0.25% , the MIB is at 21889 up 0.17% , and the CAC at 5525 up 0.08%. 

In the FX markets we have the US Dollar slowly gaining strength after most of the day it drifted lower. The EUR is last at 1.1584 down 0.12% , the GBP is at 1.2855 down 0.62% , and the JPY is at 111.12 stronger by 0.22%. Gold is also falling back to previous support levels at 1209.40 down 0.10%. Brent oil futures has been boosted by the US imposing sanctions on Iran is at 74.46 down 0.25%.

Bond yields remain in tight ranges with US10 at 2.97% , the UK10 at 1.31% , and the GE10 at 0.40%.

No economic data due out in Europe today.

Topics: Trading, Market News, European Market Update