European indices close the session higher, erasing earlier declines

German DAX, +0.8%. France’s CAC, +0.3%. UK’s FTSE 100, +0.6%.

The major European indices erased earlier declines and are closing higher on the day. A snapshot of the provisional closes shows:

  • German DAX, +0.8%. The low for the day reached -0.06 percent
  • France’s CAC, +0.3%. The low for the day reach -0.37%
  • UK’s FTSE 100, +0.6%. The low for the day reach -0.81%
  • Spain’s Ibex, +0.2%. The low for the day reach -0.57%
  • Italy’s FTSE MIB, +0.7%. The low for the day reach -0.3%

in other markets as London/European traders look to exit:

  • spot gold is trading down $7.75 or -0.43% $1798. The low price reached $1783.67. The high price extended to $1813.99
  • spot silver is trading up $0.10 or 0.37% at $27.77. It’s a low price reached $27.32 while the high price reached $27.93
  • WTI crude oil futures are trading up $1.21 or 1.98% at $62.89. The new cycle high reached $63.37. The low price reached $60.97
  • bitcoin is trading up $1650 or 3.45% at $49,627. It’s high price reached $51,415.41. It’s low price extended to $47,002.

US yields are higher but off the highest levels. The yield curve is also higher with the 2 – 10 year spread at 126.65 basis points. The spread reached its highest level since 2016 at 130.48 basis points earlier in the session.

German DAX, +0.8%. France's CAC, +0.3%. UK's FTSE 100, +0.6%.

In the forex market, a snapshot shows that the New Zealand dollar is the strongest while the Japanese yen is the weakest. The US dollar is back toward being mixed with the biggest gain vs. the JPY at +0.69% and a comparable loss vs. the NZD at -0.79%.  The US dollar is also higher vs. the CHF, EUR and GBP, and lower vs the CAD, and AUD.

The New Zealand dollars the strongest while the Japanese yen is the weakest

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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