German, France, Spain down. UK flatThe major European stock indices are ending the session mostly lower. GDP in Europe was pretty good but that sent the EUR higher. Higher EUR scares stock traders (sensitive bunch).
The German Dax has been down for 6 days and approaches the swing high from June 12951. The rising 50 day MA comes in at 12864.06.That area will be eyed for support buyers (if they show up).
- German Dax down -0.3%
- France’s CAC down -0.5%
- UK’s FTSE flat
- Spain’s Ibex down -0.9%
- Italy’s FTSE MIB down -0.63%
- Portugal’s PSI 20 up 0.18%
In the 10 year debt sector, yields are lower:
- Germany 0.395%, -2.2 basis points
- France 0.756% -2.3 basis points
- UK 1.314%, -1.4 basis points
- Spain 1.532%, unchanged
- Italy 1.830%, unchanged
- Portugal 1.971%, -2.1 basis points
- Greece 5.084%, +1.3 basis points
In other markets as London/European traders look to exit for the day:
- Spot gold iis up a $1.93 or 0.15% at $1280.30
- WTI crude oil futures are down sharply by $-1.32 or -2.33% at $55.44
- US yields are mostly lower. Two year 1.683%, unchanged. Five year 2.061%, -1.3 basis points. 10 year 2.377%, -2.8 basis points. 30 year 2.8347%, -3.6 basis points
- US stocks are trading lower. S&P index -8.25 points or -0.32%. NASDAQ —24 points or -0.36%. Dow industrial average -72 points or -0.31%
In the Forex market, the EUR is the strongest currency today (and is stronger from the start of the NY session). The NZD is the weakest. The USD is mostly lower with most of the loss against the EUR and CHF. It is only higher vs. the NZD (unchanged vs the CAD now).