Mid-session Europe: Equities lower despite strong industrial data
- USD struggling after dovish Fed minutes
- Eurozone industrial production beats forecasts
- Oil softer ahead of today's status report from the EIA
- Gold higher for fifth straight day, aiming for $1,300/oz
By the Global Sales Trading Team
- EU Industrial Output data beat the expectations at 1.4% versus 0.5% expected (month-on-month) and 3.8% versus 2.6% expected (year-on-year).
- EURSEK received a boost towards the 9.60 area on a weak Sweden CPI release .
- European stocks were in the red by mid-session despite a positive report on industrial production and new highs in Asia .
- Gold is trading higher for a fifth day and has tested resistance at $1297.5/oz in response to a weaker dollar and lower yields .
Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.