European shares end with declines on the day

Technical Analysis

Author: Greg Michalowski | german-dax

Yields mixed

The European major equity indices are ending with declines.  

Below are the provisional closes
  • German Dax, -1.15%
  • France's CAC, -0.73%
  • UK's FTSE, -0.44%
  • Spain's Ibex, -1.2%
  • Italy's FTSE MIB, -1.37%
  • Portugal PSI20, -1.01%
In the benchmark 10 year note sector, yields are mixed. 

In other markets, the US yield curve continues to flatten/invert. The 2-5 year is now negative. The 2-10 is down to 11.78 basis points. That is -3.1 basis points on the day.

The US stock indices are trading near lows for the day:

  • S&P index -21.6 points or -0.77% at 2769. Low reached 2765.74
  • NASDAQ is down -76 points or -1.02% at 7365.  Low reached 7356.60
  • Dow industrial average is down 194 points or -0.75% at 25633.  Low reached 25597.
In other markets:
  • spot gold is up $8.20 or 0.67% at $1238.82
  • WTI crude oil futures are up $.17 or 0.30% at $53.12
In the forex market as London/European traders head for the end of their day, the USD was the weakest currency coming into the day, but has moved back higher (Fed's Williams was a bit more hawkish and UK Brexit concerns pushed the GBP back down, followed by the EURUSD, et al.)   The beneficiary is the JPY which has solid - near equal gains - vs. all the major currencies.  The other pairs vs each other are all near the closing levels from yesterday and bunched together. 

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