The market-wide consistency of the last few sessions seemed to be on the wane on Tuesday, with the US, UK and eurozone all doing their own thing.
The Dow Jones didn’t get up to much after the bell, content to squat on the 24800 it clambered its way back to on Monday. The dollar fared better; the dual boost of better than forecast Markit and ISM services PMIs sent it 0.4% higher against the euro, while allowing cable to shrink its losses from 0.5% to 0.2%.
Over in the eurozone the region’s indices started to diverge as the afternoon went on. The DAX was the day’s big winner, climbing back above 12850 with a 0.7% increase (off of its lunchtime peak); the CAC, meanwhile, was up 0.3%, but with the IBEX 35 and FTSE MIB slipping into the red after previously promising morning.
As for the FTSE, it remained down half a percent, struggling with a relatively perky pound – though the currency saw its gains eroded by those strong US services PMIs against the dollar, against the euro it held onto a 0.5% increase – and the Brent Crude-led losses felt by BP (LON:BP) and Shell (LON:RDSa).
In terms of data the rest of the week’s economic calendar is pretty barren. It’ll be interesting, then, to see if the trade tensions investors have been working so hard to ignore start to creep to the forefront of the market’s mind, or whether Tuesday’s bitty, region-specific trading will set the tone for the second half.
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