European stocks little changed after steep gains

By FXstreet.com | Updated August 27, 2014 AAA

FXStreet (Córdoba) - European stocks were steady in early trade Wednesday, pausing after the biggest 2-day rally since April.



The Stoxx Europe 600 was flat at 342.83 in early trade. The index gained 1.8% in the past 2 sessions amid expectations for quantitative easing and other steps by the European Central Bank.



As for country-specific indexes the UK FTSE was effectively unchanged in early trade. The Germany’s DAX 30 dropped 0.15% and the France’s CAC 40 shed 0.24%. Spain’s Ibex 35 was down 0.05% while Italy’s FTSE MIB dropped 0.06%.



In the macroeconomic domain, there is no first-tier data scheduled for the Eurozone or the US until tomorrow.



In the currencies market, the USD is pulling back a tad after hitting from multi-month highs. The EUR/USD scored a new cycle low at 1.3152, while the USD/JPY trades little changed just below 104.00.



As for commodities, gold rose 0.10% to $1,286.50 an ounce while crude oil advanced 0.26% to $94.10 a barrel.



Related Forex Analysis
  1. Weekly Forecast: FX Volatility to Persist on Key Data, Rate Decisions
    Forex News

    Weekly Forecast: FX Volatility to Persist on Key Data, Rate Decisions

  2. Session Recap: When money comes from Japan; EUR/USD at 14-month low, USD/JPY 7-year ...
    Forex News

    Session Recap: When money comes from Japan; EUR/USD at 14-month low, USD/JPY 7-year ...

  3. EUR/USD recovery capped at 1.2540
    Forex News

    EUR/USD recovery capped at 1.2540

  4. USD to gain further support, ECB in focus - Commerzbank
    Forex News

    USD to gain further support, ECB in focus - Commerzbank

  5. EUR/USD downtrend set to continue in the coming weeks - UBS
    Forex News

    EUR/USD downtrend set to continue in the coming weeks - UBS

Trading Center