The European markets traded slightly lower today but they are likely to bounce back tomorrow because the US markets have headed higher in recent hours after a combination of a successful Treasury auction and positive news regarding unemployment and durable goods orders.

To expand on this further, unemployment claims came in 5000 lower than expected at 623,000 whilst both the durable goods orders and the core durable goods orders came in much better than expected at 1.9% and 0.8% respectively.

As a result the Dow Jones is currently 128 points higher at 8428 with just over an hour to go, whilst the S&P 500 is 15 points higher at 908 and the Nasdaq is 21 points higher at 1752.

On the currency markets the GBP/USD has had a fairly quiet day and is around 20 points lower at 1.5938. The EUR/USD, EUR/GBP and USD/JPY pairs, meanwhile, are all trading substantially higher today at 1.3942, 0.8750 and 97.03 respectively.

Gold is also back in favour today trading around 8 points higher at $963 whilst crude oil has hit the $65 mark and is actually trading at exactly $65 at this very moment.

 

 

Filed under: Market News

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