The major European indices are ending the day on a sour note. They are also lower for the week:German DAX, -1.6%France’s CAC, -1.7%UK’s FTSE 100 -1.5%Spain’s Ibex -1.3%Italy’s FTSE MIB -1.2%For the trading week, the declines are also quite hefty:German DAX, -3.0%France’s CAC -4.2%UK’s FTSE 100 -4.28%Spain’s Ibex -3.05%Italy’s FTSE MIB -3%In the European debt marketUK 20 year yield reached the highest level since May 2016, while the 10 year yield is at its highest level since November 2015.German 10 year yields are at their highest level since July/August 2014France’s 10 year yield is at the highest level since June 2014Italian 10 years at the highest level since December 2018Meanwhile, the EURUSD is remaining near its lows going back to 2017. However, the price is trying to stay above its shorter-term 200 hour moving average at 1.05516 and its 100 hour moving average at 1.05425. The current price is trading at 1.0577. The low price for the cycle reach 1.04703 last week.
European major indices close lower for the day and down sharply for the week
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