Fundamental analysis from New Forex: Europe

Fundamental analysis from New Forex: Europe

Posted on May 22, 2017, 11:50 AM

The stock markets in Europe finished the last session with moderately strong surplus, even in spite of the fact that bear comments of representatives of U.S. Fed can serve as growth driver for common currency that can turn back negative prospects for the European exporters. On this background Greece came under the spotlight at the end of the last week as the European creditors agreed to reduce a debt which Athens shall pay before receive the next tranche on economic revival. The all-European benchmark of Stoxx 600 increased 0.60% to 391.51 where the main support to the European stock markets was provided by the German Dax which added 0.39% and was closed at the level of 12638.69, and also the Italian Mibtel which added 1.26% to 21567.52. The index of consumer confidence didn’t justify the consensus forecast for a surplus in half-point, having added everything 0.3 points to-3.3. At the same time the European Central Bank published data on surplus of the current account which made €34.1 billion, having specified a tendency to easing of competitive prospects of exporters of the eurozone. In the foreign exchange markets of euro I decreased by 0.1% to 1.1192 against dollar. The pound sterling weakened for 0.3% to 1.3002, waiting for a meeting of ministers of the EU in Brussels is later today. Representatives of the European Union are going to discuss the line item on negotiations with Great Britain after the British prime minister Theresa May threatened to stop negotiations if the currency block doesn’t abandon claims for payment of compensation in €100 billion. NewForex Analyst Alex Vergunov The stock markets in Europe finished the last session with moderately strong surplus, even in spite of the fact that bear comments of representatives of U.S. Fed can serve as growth driver for common currency that can turn back negative prospects for the European exporters. On this background Greece came under the spotlight at the end of the last week as the European creditors agreed to reduce a debt which Athens shall pay before receive the next tranche on economic revival. The all-European benchmark of Stoxx 600 increased 0.60% to 391.51 where the main support to the European stock markets was provided by the German Dax which added 0.39% and was closed at the level of 12638.69, and also the Italian Mibtel which added 1.26% to 21567.52. The index of consumer confidence didn’t justify the consensus forecast for a surplus in half-point, having added everything 0.3 points to-3.3. At the same time the European Central Bank published data on surplus of the current account which made €34.1 billion, having specified a tendency to easing of competitive prospects of exporters of the eurozone. In the foreign exchange markets of euro I decreased by 0.1% to 1.1192 against dollar. The pound sterling weakened for 0.3% to 1.3002, waiting for a meeting of ministers of the EU in Brussels is later today. Representatives of the European Union are going to discuss the line item on negotiations with Great Britain after the British prime minister Theresa May threatened to stop negotiations if the currency block doesn’t abandon claims for payment of compensation in €100 billion.

NewForex Analyst

Alex Vergunov

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