European Market Update Feb 02 2018

Posted by Tim Sholl on 02-Feb-2018 21:03:05


Above Daily Chart of DAX cfd with support at 200d MAE at 12686.

Stock indices have been weak for past 8 sessions, apart from ASX200 which has consolidated in mid Jan after highs early in the month and then strength the past 4 sessions. Dax at 12827 down 130 , CAC at 5401 down 53 and FTSE at 7470 down 15.

The two key trends still in place are the Weak US Dollar and the Weak US 10 year note yield. Both trends have been in force for at least 8 weeks.  DXY at  88.72 up 21. EUR at 1.2485 down 20 , GBP at 1.4214 down 49. 10 yr note yield at 2.76%.

US payroll numbers are out at 12.30am tonight looking for increase in jobs of exp 177k and u/e of 4.1%.

Eurozone PPI has come in at 2.2%y/y against 2.3% y/y expected.




Topics: Market News, Invest, European Market Update