European stocks advance for a second day

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - European stocks advanced for a second session Monday as risk aversion and Portuguese banks concerns recede.



The Stoxx Europe 600 rose 0.55% to 338.71. The index retreated 3.2% last week, the most since March 14. Among country-specific indexes, UK FTSE 100 gained 0.49%. Germany's DAX 30 climbed 0.53% and France’s CAC 40 added 0.52%. Italy’s FTSE MIB rose 0.69% while Spain’s Ibex 35 advanced 0.67%.



On the macroeconomic domain, the Eurozone will release May industrial production figures while ECB President Draghi will speak before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Strasbourg, France.



In the FX market, the US dollar came under pressure at the beginning of the European session following a quiet start in Asia. The EUR/USD rose to the 1.3640 area, while GBP/USD hit a daily high of 1.7128. The USD/JPY climbed to 101.52.



As for commodities, gold fell 1.07% to $1323 an ounce while crude oil dropped 0.50% to $100.34 a barrel. US futures point higher.



Related Forex Analysis
  1. GBP/USD Technical Analysis: Struggling to Mount Rebound
    Forex News

    GBP/USD Technical Analysis: Struggling to Mount Rebound

  2. A return of USD strength for 2015 - ANZ
    Forex News

    A return of USD strength for 2015 - ANZ

  3. EUR/USD: Looking to see above 1.25 - 2ndSkies
    Forex News

    EUR/USD: Looking to see above 1.25 - 2ndSkies

  4. Recap: The Good, the Bad and the Ugly US Dollar on today's session
    Forex News

    Recap: The Good, the Bad and the Ugly US Dollar on today's session

  5. Is Sterling making a come back? - FXStreet
    Forex News

    Is Sterling making a come back? - FXStreet

Trading Center