Fundamental analysis from New Forex: Europe

Fundamental analysis from New Forex: Europe

Posted on February 17, 2017, 11:10 AM

The stock indexes in Europe also weakened having interrupted its seven-day growth because of the weakened metals prices and the disappointing corporate data among large industrialists where such companies as Cobham (the British industrial manufactory) lost up to 15% against the background of weak and extra target data for the last quarter of 2016. The all-European benchmark Stoxx Europe 600 lost 0.23%. Sovereign indexes have also weakened: the British FTSE 100 lost 0.34%, German DAX weakened at 0.31% and the French CAC 40 at 0.51%. In the goods markets oil promoted at 0.1% to $53.43 for barrel but still risks to weaken against the background of the crude oil growing inventories in the USA even despite of the prospects reducing offers promised from OPEC and other exporters. The European currency slightly weakened against the greenback to the level of 1.0671 but grew up at 0.3% this week. The British pound pulled ahead after today’s growth having added 0.07% against the greenback and 0.08% against euro. Swiss franc is in defense position with losses about 0.03% against US dollar and euro after the weakened demand for gold in the spot markets which pushed precious metal down at 0.1% to 1.2372 for ounce today.

NewForex Analyst

Alex Vergunov

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