Global Markets: European fell sharply as the dollar weakened


There is an anxious wait in the European markets on 6th of July. European state treasuries fell hard after the frustrating tenderer in France.

Bond interest rates in Germany rose to the highest level of the previous 17-month after the soft demand in the tenderer in France was perceived negatively by investors. The Stoxx Europe 600 Index achieved the biggest fall in the week with the spread of the sales wave in most sectors. On the other hand, West Texas Crude oil climbed to $ 46 per barrel again before the US crude oil stocks were expected to decline.

There were huge sales just before the last minutes of the European Central Bank’s meeting and the announcement of the US employment data. Eurozone policy makers considered loosening monetary policy if needed in order to speed up their bond purchasing program, at a meeting they held last month. Data released by the ADP revealed that business day purchases in the US increased more slowly in June compared to the previous month.

The last meeting minutes published by the Fed on Wednesday showed that there were disagreements over how to approach the policy strategy in an environment where the $ 4.5 trillion budget would start to shrink and low inflation.

After the meeting of the European Central Bank and announcement of the US employment data, here is the how the global stock markets changed. Stoxx Europe 600 closed 1 percent lower at 08:22 New York time. The S & P 500 index futures contracted 0.3 percent after 0.2 percent rise in Wednesday’s bull market. The Nasdaq 100 was 0.9 percent leapfrog.

Bloomberg Dollar Spot Index dropped 0.2 percent while the euro strengthened 0.4 percent to $ 1.1395. The sterling gained 0.1 percent and traded at $ 1.2949.

The  US Treasury yields of 10-year maturities increased by 5.8% on Wednesday after falling three basis points on Wednesday. In Germany and France, the interest rate for 10 years is nine bases and the interest rate of UK state treasuries is six bases.

West Texas Oil futures increased 1.6 percent and came in at $ 45.86 per barrel. The contract showed the biggest decline of four weeks on Wednesday, with 4.1 percent on Wednesday as Russia opposed OPEC-led production restrictions deepening. Gold fell 0.2 percent to 1,224.36 dollars per ounce and ended its two-day earnings.

The Topix Index fell 0.1%, while the yen remained flat following losses in Japan. South Korea’s Wonu fell 0.6% to its lowest level since March. The Sensex Index rose 0.5% to close at record level in India.

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Global Markets: European fell sharply as the dollar weakened

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