European equities edged lower today, tracking the yesterday’s tech-led selloff on Wall Street as investors increasingly turned their focus onto inflation data.
The DAX in Germany traded 1.9% lower, the CAC 40 in France dropped 1.8%, and the U.K.’s FTSE 100 fell 2.1%.
EUR/USD has been surging above 1.2150 after the German ZEW Economic Sentiment gauge beat expectations with 84.4 points. Earlier, worries about inflation bolstered the dollar.
European tech shares tumbled to their lowest level since late March, while miners handed back some of their strong gains in the previous session.
German inflation could climb above 3% as the economy recovers from the pandemic, according to ECB Executive Board member Isabel Schnabel in an interview today, but it won’t last and the European Central Bank will look beyond such volatility.
25 Jun 2021 11:12 AM
Gold advanced today and was set for its first weekly rise in four as the U.S. currency weakened, with market participants focusing U.S. inflation data after mixed signals from Fed officials on interest rate hikes.
25 Jun 2021 10:36 AM
Check how the Indian markets started their day
25 Jun 2021 09:09 AM
The Indian rupee is expected to appreciate against the U.S. currency following a rise in Asian currencies and equities on upbeat economic outlook.
25 Jun 2021 07:30 AM
Check What Happened Overnight In Financial Markets
24 Jun 2021 06:35 PM
Key factors to keep in mind before the US markets open
24 Jun 2021 03:55 PM
The Indian rupee strengthened for the second straight day against the U.S. dollar and closed higher at 74.16, aided by strong portfolio equity inflows.