The major European indices are ending the day with gains. The gains are not on par with the China and Hong Kong gains of 4% but German Dax up 0.75% and France’s CAC up 1.28% is not bad.
The closing levels show:
German DAX, +0.75%France’s CAC +1.28%UK’s FTSE 100 +0.28%Spain’s Ibex +0.33%Italy’s FTSE MIB +0.60%
As London/European traders head for the exits, US indices are also back in positive territory after earlier declines on the weaker US consumer confidence and Richmond Fed survey data.
Dow industrial average +0.07%S&P index +0.10%NASDAQ index +0.36%
The small-cap Russell 2000 is unchanged
Looking at US yields as we head into the afternoon trading
2 year 3.554%, -2.1 basis points5-year 3.490%, -0.5 basis points10-year 3.752%, +1.5 basis points30-year 4.109%, +2.7 basis points
Crude oil traded as high $72.40, but has since rotated back down and trades at $71.22. That’s still up $0.85 or 1.20% on the day. The 100 hour moving average comes in at $70.70. That is the next downside target that if broken would have traders targeting the 200 hour moving average near $70 and moving higher.
This article was written by Greg Michalowski at www.forexlive.com.
