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4 Jul 2013
European bourses closed with strong gains
FXstreet.com (Edinburgh) - Markets in Euroland closed markedly higher on Thursday, after the BoE and the ECB will keep alive the easing cycle for longer. Both central banks sounded more dovish than previously though in their respective meetings, pointing to the adoption of Fed-style forward guidance in their monetary policies. The FTSE100 outperformed its peers advancing 3.08%, seconded by the Spanish benchmark, 3.07% and the CAC40, 2.90%.
Forgettable day for the shared currency and the sterling, both sharply lower against the greenback after the central banks statements, trading in 5-week lows around 1.5070 (1.5250 pre-BoE) and 1.2910 (1.3020 pre-ECB). Next big event will be tomorrow’s US NFP, where a better-than-expected number could extend today’s declines.
In the commodities’ realm, rising tensions in Egypt keeps bolstering the price of the crude oil, now retreating just 0.12% at $101.12. The ounce troy of gold is following the same direction, down 0.18% at $1,249.
Forgettable day for the shared currency and the sterling, both sharply lower against the greenback after the central banks statements, trading in 5-week lows around 1.5070 (1.5250 pre-BoE) and 1.2910 (1.3020 pre-ECB). Next big event will be tomorrow’s US NFP, where a better-than-expected number could extend today’s declines.
In the commodities’ realm, rising tensions in Egypt keeps bolstering the price of the crude oil, now retreating just 0.12% at $101.12. The ounce troy of gold is following the same direction, down 0.18% at $1,249.