European shares close mostly higher with the exception of the UK FTSE

Technical Analysis

Author: Greg Michalowski | german-dax

German DAX, +0.84%. UK FTSE, -0.63%

The major European shares are closing mostly higher with the exception of the UK FTSE which fell on the back of a stronger GBP.

The provisional closes are showing:
  • German DAX, +0.84%
  • France's CAC, +1.09%
  • UK's FTSE, -0.63%
  • Spains Ibex, +1.0%
  • Italy's FTSE MIB, +1.0%
In the European debt market, the 10 year benchmark yields all rose:

European benchmark 10 year  yields are higher

In other markets as European/London traders for the exits:
  • spot gold is down $33.95 or -2.18% at $1518.37
  • WTI crude oil futures are up $1.13 or 2.01% at $57.39
In the US debt market yields are sharply higher, with 5 year yields up 12.6 basis points leading the way.

US yields are sharply higher
In the US stock market, major indices are up sharply (and back above 50 day MA levels too):
  • S&P index up 40 points or 1.35% at 2977.60.  50 day moving average at 2945.21.
  • NASDAQ index up 126 points or 1.58% at 8103. The day moving average at 8047.98.
  • Dow industrial average up 430 points or 1.63% at 26786. 50 day MA at 26563.34.
In the forex market, the strongest and weakest currencies rank, has the GBP as the strongest and the CHF now as the weakest (taking over the weakest spot from the JPY earlier in the New York session).  The US dollar is mixed with gains against the JPY, CHF and marginally against the CAD.  The greenback is lower versus the GBP, AUD, NZD and EUR now. 

The major currency pairs show the GBP is the strongest and the CHF is the weakest
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