Spain’s Ibex leads the move to the downside
The major European indices spent most of the day in the red. France’s CAC and Italy’s FTSE MIB with the only indices to extend into positive territory intraday. However both are ending lower.
A look at the provisional closes shows:
- German DAX, -0.4%
- France CAC, -0.3%
- UK’s FTSE 100, -0.4%
- Spain’s Ibex -0.9%
- Italy’s FTSE MIB, -0.4%
In the European debt market, the benchmark 10 year yields are ending lower. The German 10 year is trading down -1.3 basis points. Italy’s yield has fell by -4 basis points.
In the forex market, the AUD remains the strongest of the majors, while the CAD as moved to the weakest. Crude oil prices are moving sharply lower with the front contract down over 4%. That is helping to pressure the CAD in trading today.
The US dollar remains a weaker vs. most of the major currencies with the exception of the JPY and CAD.