Global Markets: Dollar and pound increased


In international markets, the dollar increased after CPI data of the US was released while the pound jumped after BOE.  The US dollar rose after the inflation rate showing that the country is accelerating, and Treasury bond interest rates climbed. The pound jumped as the Bank of England noticed changes in interest rates however pointed out the possibility of reducing incentives.

Major stock indicators in European market have been mixed and the US stock futures have dropped after the news about that North Korea is preparing for a missile launch in an environment where there are more signs that the Chinese economy is in stagnation. On the other hand, the drop in base metals pulled down the metal shares.

Renewed hopes about tax reform in the United States took the Representative’s Speaker Paul Ryan‘s support for saying that the plan was to have a new tax system to enter into force next year.

The Stoxx Europe 600 Index dropped 0.1% at 08: 31 New York time while S & P 500 index futures contracts were down 0.2 percent. In the United Kingdom, the FTSE 100 Index fell to the lowest level for more than two weeks with a fall of 0.8 percent. Bloomberg Dollar Spot Index increased 0.2%. The euro gained 0.1% by trading at $ 1.1893 level. The pound gained 1 percent to $ 1.3343, almost the strongest level of a year.

10-year Treasury yields increased by three base points to 2.22%, and on the fifth day of earnings, the two-week-old rose to its highest level. Gold traded at $ 1.323.29 per ounce, rose 0.1 per cent.

West Texas Oil (WTI) gained 1.3 percent, reaching its highest level for more than five weeks and reaching $ 49.92 per barrel. On the other hand, the yen did not change much above the 110.53 level against the dollar.

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Global Markets: Dollar and pound increased

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