Global Markets: Euro was not affected by bad German data


In international markets, the euro depreciated as oil rose despite the negative German data.  The euro started to rise again against the dollar, despite the announcement of that industrial production in Germany fell unexpectedly in June. Crude Oil dropped after OPEC’s meeting with its partners in the production sharing agreement.

The euro is having difficulty in maintaining its momentum against the currencies of the G-10 countries, while the euro is recovering after the euro fell sharply against the US dollar on Friday. The US index futures contracts moved up against European stocks.

The data released in Germany on Monday about the industrial production of Germany is neither a turning point for Germany nor for the Eurozone. Both of the economies are doing quite well with the economic recovery, despite a series of political challenges.

The Stoxx Europe 600 Index was down 0.2% at 07:21 New York time while the Standard & Poor’s 500 (S & P 500) index futures contracts rose 0.1 percent. In the UK, the FTSE 100 Index rose 0.2%, and over seven weeks ended at the highest level on a closing basis. DAX Index of Germany was down 0.4 percent. MSCI All Countries World Index rose 0.2%, by climbing to the highest level of all time.

Bloomberg Dollar Spot Index increased slightly from 0.05 percent. The euro rose 0.3% versus the dollar to 1.1806. Pound rose 0.1% versus the dollar, climbing to 1.3056.

The US interest rates on 10-year-old treasuries rose slightly from a base point to 2.27 percent. Germany’s 10-year treasury yield increased by one base point to 0.48 percent. The interest rate of 10-year Treasuries of the United Kingdom dropped by one base point to 1.165 percent.

West Texas Oil (WTI) was trading at $ 49.07, down 1 percent from $ 48.78 a barrel.  Gold price dropped 0.1 percent to $ 1,258.17 an ounce.

Japan’s Topix Index increased 0.5 percent. Toyota jumped 2 percent after its first-quarter profit outpaced forecasts and boosted profit forecasts for the entire year. The S & P / ASX 200 Index rose 0.9 percent on the back of mining and banking sector capitals in Australia. South Korea’s Kospi Index climbed 0.1 percent. Hang Seng Index rose 0.4 percent in Hong Kong.

The MSCI Asia Pacific Index increased 0.5% and stood near its highest level since December 2007. The yen dropped 0.1% against the dollar to 110.75.

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Global Markets: Euro was not affected by bad German data

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