AFTERNOON MARKET OVERVIEW
Tuesday’s release of French consumer spending has outperformed market expectations (0.1%), posting 1.3% for April, up from its previous level of -0.2% in March.
EURJPY 127.86 -0.29%, EURCHF 1.2251 -0.20%, EURGBP 0.8439 -0.15%, EURAUD 1.2636 -0.09%, EURUSD 1.3084 -0.08% and EURCAD 1.3240 -0.06%.
In the UK, Tuesday’s release of the GfK’s UK Consumer Confidence Index has decreased by one point this month to -27.
The data assesses the personal financial situation over the last 12 months and over the next 12 months, and also climate to make major purchases, post decreases in April 2013.
The majority of Sterling’s major counterparts are down following the data release. Further exacerbating starlings losses will be the speculative sell-off being seen in the euro pairs, with mainland Europe being a large trading partner.
GBPCHF 1.4499 -0.23%, GBPJPY 151.03 -0.17%, GBPNZD 1.8094 -0.14%, EURGBP 0.8439 +0.13%, GBPCAD 1.5665 -0.08% and GBPAUD 1.4974 +0.03%.
Equity markets are in a net-positive position heading into the New York open. European STOXX 600 is up 0.04% off its previous close, currently trading at 297.52, the UK FTSE 100 is down sharply in today’s trading, down -0.11% trading at 6,450.76 and the France CAC 40 incurred the biggest losses across the European equity markets, down -0.27%, currently trading at 3,858.14.
Story provided by StockMarketWire.com