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European stock indices slightly in red

The equity market is today equally calm like the fx market. On the fx market the largest divergence among G-10 currencies today is worth only 0.36% on EURAUD: the euro remained in the downward trend despite a confirmation of the consensus view on Eurozone GDP in Q3 and on October HICP growth); AUD is leading the G-10 pack thanks to positive CPI developments (suggested by the monthly inflation gauge) and higher irton ore prices.

Going back to the equity market, the European indices did get an important signal to move lower in the form of reports about new difficulties in OPEC talks that sent the crude price lower, but the scale of the daily move (-0.33% on DAX, -0.7% on CAC40) has not made the indices to breach any particularly telling levels. That said we are still close to the area that served as a resistance for many indices in the first half of October.

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 US contracts for main stock indices are trading lower on the day by 0.30% in case of S&P500 and 0.5% for NASDAQ. The Friday news that made the Wall Street move lower on FBI action against Clinton (described HERE) may still keep the sentiment relatively negative, together with the mentioned negative news for energy sector.

 

 

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