FXStreet (Córdoba) - European stocks advanced in early trade Friday, tracking Asian indexes gains, with volume subdued due to a public holiday in a number of European countries.

The Stoxx Europe 600 rose 0.41% at 332.40, heading for its biggest weekly increase since February. As for country-specific indexes Germany’s DAX 30 gained 0.35% while the France’s CAC 40 advanced 0.36%. The UK FTSE 100 was up 0.58%.

On the data front, the UK released the 2Q GDP, which showed the economy expanded at a 0.8% pace, as expected. On annual basis, the GDP grew 3.2%, beating forecast of 3.1%. Data was light in Europe as many countries celebrated the Assumption Day.

In the FX space, the US remains under pressure across the board, with the EUR/USD approaching once again to the 1.3400 area. Other majors were little changed, with the pound holding below 1.6700 even after supportive UK GDP data.

As for commodities, gold dropped 0.10% to $1,314 an ounce, while crude oil slid 0.14% to $95.45 a barrel.

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center