European shares start the week with modest declines

  
Analysis, Global Indices

Major indices close with small declines

The European shares are starting the week with modest declines. A look at the provisional closes are showing:

  • German DAX, -0.18%
  • France’s CAC, -0.22%
  • UK’s FTSE 100, -0.26%
  • Spain’s Ibex, unchanged
  • Italy’s FTSE MIB bucked the trend with a gain of 0.1%
In the European debt market, the benchmark 10 year yields are ending mostly lower. The exception is the Italian 10 year yield which eked out a 0.5 basis point gain.
Major indices close with small declines 
In other markets as London/European traders look to exit.
  • The EURUSD is trading at session lows and down 34 pips on the day
  • The EURGBP is also trading near lows at down 43 pips on the day
  • The GBPUSD is higher but off its NY session high at 1.29455. The current price is trading at 1.2913.
  • The GBP is the strongest of the majors, while the EUR is the weakest.
  • The USDJPY, USDCHF and AUDUSD are trading within 3 pips of the Friday close
  • The USDCAD is trading just off its high for the day after moving down about 20 pips into the London morning session, only to snap back higher (and trade up about 20 pips) in the New York session
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