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European Market Update 27 Jul 2018

Posted by Tim Sholl on 27-Jul-2018 22:15:15

European stock investors are on track for the best week in the past four months after the trade truce between the US and Europe. The auto sector which had been hit very hard on threatened tariffs has rebounded sharply to be one of the best performed. Latest prices have the DAX at 12879 up 0.55% , the CAC at 5496 up 0.30% , the MIB at 21920 up 0.26% , and finally the FTSE at 7703 up 0.53%.

The US Dollar has also shown some strength after the ECB chose to keep the interst rate and stimulus settings the same at the meeting last night. The EUR is last at 1.1625 down 0.12% , the GBP is at 1.3093 down 0.12% and the JPY is 111.18 flat. The DXY , US Dollar index , is at 94.65 up 0.11%. Gold is last at 1219.20 down 0.28% and Brent crude oil is at 74.51 flat .

Bond yields have moved higher over the week as the fear of a massive trade war recedes and the US10 is now at 2.97% flat , the UK10 at 1.28% up 1 , and the DE10 at 0.41% up 7.

Markets are waiting for the US GDP advance estimate out shortly with expectations at up to 4.4%.

 

Topics: Trading, Market News, European Market Update