European shares end the session lower.

Technical Analysis

Author: Greg Michalowski | german-dax

Spain's Ibex leads the move to the downside

The major European indices spent most of the day in the red. France's CAC and Italy's FTSE MIB with the only indices to extend into positive territory intraday. However both are ending lower.

A look at the provisional closes shows:
  • German DAX, -0.4%
  • France CAC, -0.3%
  • UK's FTSE 100, -0.4%
  • Spain's Ibex -0.9%
  • Italy's FTSE MIB, -0.4%
In the European debt market, the benchmark 10 year yields are ending lower. The German 10 year is trading down -1.3 basis points. Italy's yield has fell by -4 basis points.

European yields are lower
In the forex market, the AUD remains the strongest of the majors, while the CAD as moved to the weakest.  Crude oil prices are moving sharply lower with the front contract down over 4%. That is helping to pressure the CAD in trading today. 

The US dollar remains a weaker vs. most of the major currencies with the exception of the JPY and CAD.

The US dollar is lower
In other markets:
  • spot gold is trading up $10.88 or 0.58% at $1892.48. The high price has reached $1893.07 but remains below the natural resistance at $1900
  • spot silver is up $0.40 or 1.7% at $24.07
  • WTI crude oil futures are trading down $1.68 for -4.14% at $38.92. The low price reached $38.82
In the US stock market, the Dow Jones is lower on the day (and spent most the day in the red), while the NASDAQ index has been trading above and below the unchanged level. The S&P index is currently down but it too has seen price action above and below unchanged for the day.
  • S&P index -8 points or -0.24% 3343.50
  • NASDAQ index up 7.5 points or 0.07% 11125
  • Dow industrial average -127 points or -0.46% at 27456
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