France’s CAC and Spain’s Ibex the weakest
The European major indices have modest changes on the day with the France’s CAC and Spain’s Ibex the weakest. The provisional closes are showing:
- German DAX, flat
- France’s CAC, -0.3%
- UK’s FTSE 100, up 0.1%
- Spain’s Ibex, -0.3%
- Italy’s FTSE MIB, flat
In the European debt market, the yields in the benchmark 10 year notes are marginally higher. UK yields moved the most with a 1.9 basis point gain.
A snapshot of the forex market as London/European traders look to exit shows the AUD is the strongest and the JPY is the weakest. That was the order at the start of the NY session. However, each have increased their relative advantages. The GBP was lower at the start of the New York session, but with all the Brexit chatter from EU and UK officials, the GBP has moved higher in the NY session. The USD has weakened in the the NY session with the greenback losing ground vs. both the GBP and the AUD over the last 4 or so hours.