European stocks boosted by China’s data

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - European stocks advanced Wednesday, recouping from yesterday’s decline, after data showed China expanded faster than expected and as concerns about Portugal’s banking sector recede.



The Stoxx Europe 600 rose 0.93% to 341.54, recovering from a 0.4% loss the previous day. Among country-specific indexes, UK FTSE 100 gained 0.75%. Germany's DAX 30 advanced 0.99% and France’s CAC 40 rose 1.21%. Italy’s FTSE MIB climbed 1.02% while Spain’s Ibex 35 gained 0.86%.



On the macroeconomic domain, China's economy grew 7.5% in the Q2 from a year ago, slightly exceeding expectations. The UK reported better-than-expected employment data while Fed Chair Yellen second-day of testimony before the Congress will attract market’s attention once again.



In the FX market, the US dollar trades a tad firmer across the board after Yellen said rates could rise sooner if employment continued to improve.



As for commodities, gold was nearly flat at $1298 an ounce after dropping more than $45 in the past 2 days. Crude oil rose 0.61% to $100.57 a barrel.



You May Also Like

Related Forex Analysis
  1. EUR/USD testing highs around 1.2415
    Forex News

    EUR/USD testing highs around 1.2415

  2. German IFO surprised on the upside – BBH
    Forex News

    German IFO surprised on the upside – BBH

  3. EUR undermined by dovish speech from ECB President Draghi – BTMU
    Forex News

    EUR undermined by dovish speech from ECB President Draghi – BTMU

  4. Markit Services PMI can trigger EUR/USD – FXStreet
    Forex News

    Markit Services PMI can trigger EUR/USD – FXStreet

  5. EUR/USD Struggles on Friday
    Investing

    EUR/USD Struggles on Friday

Trading Center