Fundamental analysis from New Forex: Europe

Fundamental analysis from New Forex: Europe

Posted on January 11, 2017, 11:43 AM

The stock indexes grow in Europe, with leading retail companies and also thanks to rally on precious metals and shares of mining companies. Nevertheless, the European growth is limited by the weakened financial sector particularly in such countries as Italy, Greece and well-developing European currency. The all-European Stoxx 600 index grew up by 0.1% while the British FTSE 100 updated its record maxima with a surplus of 0.5% to level of 7.28481 points. The French CAC 40 is at a zero mark while German DAX added 0.2%. Insurance and bank industry indexes dropped by 0.6 and 0.1% relatively with lowering in 0.7 at Commerzbank and for 2.4% at Deutsche Bank. In Lisbon Banco Commercial Portugues fell 11.3% to record-breaking low levels. Euro is traded at the level of 1.0543 against the greenback with a surplus in 0.1%. The American dollar spread out earlier because of hedge moods in the markets while the British pound caught a tendency for growth of traditional assets and fell to 2-1/2-month minima in 1.2107 from the level of 1.2166 against US dollar. The Swiss franc still cuts profit from hedgers, meanwhile receiving a boost from rally on precious metals. We relatively expect Trump’s press conference and new trade reference points later on today.

NewForex Analyst

Alex Vergunov

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