By Connor Campbell, Financial Analyst, Spreadex
The European markets moved lower this Monday morning due to a combined lack of news today and potential disruptions later in the week.
The FTSE dropped 0.3% after the bell, just about keeping its head above 7300 thanks to its commodity stocks avoiding the downturn seen elsewhere. As for the pound, sterling dipped 0.1% against the dollar while pushing 0.1% higher against the euro; this failed to move the currency too far away from where it was last Friday, trapping it around the $1.285 and €1.095 marks respectively.
Over in the eurozone, the losses were greater despite the euro slipping 0.2% against the dollar. The DAX and CAC, both of which are down 0.5% to 0.6%, are still somewhat affected by the tragic events in Spain last week, as well as the generally negative tone of trading that seems to have taken hold of the global indices.
While there’s not a lot of economic news to work with this Monday, there is still the continuation of some key macro-issues for investors to process. For example, though the tensions between the US and North Korea have faded into the background due to the domestic crisis engulfing Donald Trump’s presidency, the start of military exercises between America and South Korea could spark a return to the kind of market-dragging nuclear rhetoric seen a few weeks ago.
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