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European Market Update Feb 15 2018

Posted by Tim Sholl on 15-Feb-2018 21:45:01

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Daily Chart CAC Index (CAC40.I)

European stock indices continued the bullish price action after a strong reversal last night in the US session. A stronger than expected CPI number initially saw stock futures plummet up to 2% before a stunning rally took markets back to the positive. Asian markets continued the run today and now we have all major European indices positive. FTSE is at 7263 up 51 , CAC at 5248 up 84 , and Dax at 12458 up 124 and all looking strong.

The USD also had a volatile night with initial strength giving way to continued weakness , we see EUR at 1.2478 up 26 , GBP at 1.4050 up 54 and the DXY latest at 88.66 down 34 and looking weak.

Spanish CPI came in at 0.6% y/y a bit lower than previous and Greek CPI came in at negative 0.2% y/y showing deflation still around.

 

Topics: Trading, Market News, European Market Update