Article / 13 September 2017 at 11:22 GMT

Mid-session Europe: Stocks dip, oil gains

Saxo Markets
  • Major European equity indices slipped modestly by midday
  • Declines led by basic materials, healthcare and consumers goods sectors
  • USD little changed; GBPUSD backed off a one-year high on soft UK wage growth
  • UK unemployment unchanged at 2.3%
  • WTI crude oil climbs to $48.7/barrel with boost from IEA report


European stocks slipped on Wednesday. Photo: Shutterstock

By the Global Sales Trading Team

  • European stocks slipped in the first half of the session on Wednesday, led by basic materials, healthcare and consumers goods sectors.

  • The US dollar was little change before key US inflation and retails sales data slated for Thursday and Friday. GBPUSD retreated from a one-year high to 1.3257 after wage growth in Britain came in at 2.1%, which was weaker than expected.

  • UK unemployment unchanged at 2.3%.

  • EU industrial output up 0.1% month-on-month in line with expectations.

  • WTI crude oil prices got a boost to $48.7/barrel, with the IEA's oil market report showing demand growing at the fastest pace since 2015 .

  • Gold is being kept in check by increased risk appetite elsewhere.

Please click on the attached PDF for the Saxo Bank Global Sales Trading 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: September 13, 2017


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