European stocks rise, headed for weekly gains

By FXstreet.com | August 15, 2014 AAA

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.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY crashes below 106.50, more downside in store
    Forex News

    USD/JPY crashes below 106.50, more downside in store

  2. Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude
    Forex News

    Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude

  3. EUR/USD bulls wake up and drive pair above 1.2800
    Forex News

    EUR/USD bulls wake up and drive pair above 1.2800

  4. Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
    Forex News

    Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?

  5. AUD/USD Range Endures With Clearer Cues From Candlesticks Desired
    Forex News

    AUD/USD Range Endures With Clearer Cues From Candlesticks Desired

Trading Center