European stocks fall for fifth session in a row

By FXstreet.com | July 10, 2014 AAA

FXStreet (Córdoba) - European stocks resumed the downside and are falling for a fifth day in a row, after Chinese exports missed expectations and investors await the Bank of England policy decision.

The Stoxx Europe 600 was down 0.1% at 339.63 The index dropped 2.6% in the last 4 days. Among country-specific indexes, UK FTSE 100 was flat. Germany's DAX 30 dipped 0.19% and France’s CAC 40 dropped 0.16%. Italy’s FTSE MIB fell 0.42% while Spain’s Ibex 35 shed 0.38%.

In the macroeconomic domain, there is not much in the way of Eurozone economic data out today while the BoE is expected to remain on hold when it concludes its meeting today.

In the US, Fed minutes showed FOMC members agreed to end their bond-buying program in October if the economy holds up.

In the FX market, the dollar trades a tad higher across the board. The EUR/USD failed to break above 1.3650 and dipped to negative ground. GBP/USD fell to the 1.7130 zone ahead of BoE decision. The Aussie is among the worst performers weighed by Chinese and domestic data.

As for commodities, gold rose 0.44% at $1330 an ounce while crude oil fell 0.64% to $101.64 a barrel. US futures were lower.

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