European corporate earnings and share prices have lagged their US counterparts throughout 2017, but Saxo Bank head of equity strategy Peter Garny thinks that next year could see Continental bulls find their footing.
Article / 12 October 2017 at 11:18 GMT

Mid-session Europe: Equities lower despite strong industrial data

Saxo Markets
  • 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

 The greenback is being hurt the Fed's dovish noises and a loss of confidence in Trump's tax plan. Picture: Shutterstock

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.

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Mid-session Europe: October 12, 2017


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