European shares rebound from yesterday's tumble lower

Technical Analysis

Author: Greg Michalowski | german-dax

German DAX rises 1.7%

The major European indices are closing higher and rebounding from yesterday's tumble lower. Provisional closes shows:

  • German DAX, +1.8%. Yesterday the German DAX fell -1.66%
  • France's CAC, +1.2%. Yesterday France's CAC fell -1.57%
  • UK's FTSE 100, +0.3%. Yesterday the UK FTSE 100 fell -0.84%
  • Spain's Ibex, +0.8%. Yesterday Spain's Ibex fell -1.73%
  • Italy's FTSE MIB, +1.1%. Yesterday Italy's FTSE MIB fell -1.6%
in other markets as European/London traders look to exit:
  • Spot gold is trading down $1 or -0.06% at $1855.
  • Spot silver is up $0.21 or 0.84% a $25.56
  • WTI crude oil futures down $0.22 of -0.40% $52.56
  • Bitcoin is trading down $1027 or -3.14% at $31684
In the forex market, the NZD remains the strongest of the majors, while the USD is the weakest.  The USD as gotten weaker in the NY session but is marginally higher (off lows) since the US stock opening. 

German DAX rises 1.7%_
In the US debt market, yields are marginally higher. The 5 year yield is up 1 basis point at 0.412%. The US treasury will auction off 5 year notes at 1 PM ET.

US yields are higher
For bank trade ideas, check out eFX Plus
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