The major European indices are closing sharply higher on the day, but it wasn’t enough to erase declines for the week. For the day:
- German Dax, 3.66%
- Francis CAC +3.54%
- UK’s FTSE 100 +3.91%
- Spain’s Ibex +3.5%
- Italy’s FTSE MIB +3.5%
For the trading week:
- German Dax, -3.3%
- Francis CAC -2.56%
- UK’s FTSE 100 -0.33%
- Spain’s Ibex -1.04%
- Italy’s FTSE MIB -2.87%
Looking at the daily chart of the German Dax, the price decline this week so the index moved down some -15.24% from its November 2021 high.
A quick look around the market as London/European traders look to exit:
- spot gold is trading down $18 or -0.96% at $1885
- WTI crude oil is trading down $1.52 at $91.32
- Bitcoin is trading up around $1000 at $39,395
US stocks are trading at their highest levels for the day
- Dow industrial average is up 735 points or 2.21% at 33958
- S&P index is up 87 points or 2.03% at 4375.74
- NASDAQ index is up 194 points or 1.44%
- Russell 2000 is up 30.62 points or 1.53% at 2025.97
In the US debt market, yields are higher with the two year up at 1.605%. The high-yield this week reached 1.640%.
The 10 year is up 1.4 basis points of 1.9860%. The high yield for the 10 year reach 2.016%.
This article was originally published by Forexlive.com. Read the original article here.