The major European indices are closing the day higher despite what was weak flash European PMI data for both manufacturing and service.
The final numbers are showing:
German DAX +0.89%France’s CAC +0.58%UK’s FTSE 100 1.38%Spain’s Ibex 0.39%Italy’s FTSE MIB 0.60%
For the trading week indices are mixed with France and Italy moving lower and Germany, UK, and Spain moving higher.
German Dax +0.58%France’s CAC -0.20%UK’s FTSE 100 +2.46%Spain’s Ibex +0.18%Italy’s FTSE MIB -2.04%
Looking at the European yields, the benchmark 10 year yields moved lower on the weaker data:
Germany 2.245%, -8.2 basis pointsFrance 3.046%, -6.7 basis pointsUK 4.392%, -4.0 basis pointsSpain 2.977%, -7.5 basis pointsItaly 3.508%, -5.1 basis points
for the trading week 10 year yields were lower
Germany, -9.5 basis pointsFrance -2.7 basis pointsUK -6.8 basis pointsSpain -8.0 basis pointsItaly -3.9 basis points
As London/European traders head for the exits for the week, US stocks are higher:
Dow industrial average +0.76%S&P index +0.26%NASDAQ index +0.05%Russell 2000+1.57%
In the US debt market, yields are mixed with the shorter end higher in the longer and lower:
2-year 4.362%, +1.3 basis points5-year 4.289%, -1.4 basis points10 year 4.402%, -3.0 basis points30 year 4.584%, -3.6 basis points
A snapshot of other markets shows:
Crude oil is $0.86 or +1.24% at $70.97Gold is up $36.78 or 1.3% at $2706.15. The price is moving closer to its all-time high closing level of $2787.42, after correcting toward the 100 day moving average and find support buyers back on November 14.Bitcoin is trading at $99,127. The high price today reached $99,500 earlier today. Come on Bitcoin 100K.
This article was written by Greg Michalowski at www.forexlive.com.
