European Equities Rise On Higher Commodity Prices

European Equities Rise On Higher Commodity Prices

23 Feb 2021 02:38 PM

European equities climbed today as strong commodity prices helped offset mixed corporate earnings updates, while British bank HSBC dropped after it abandoned its long-term profitability targets.

The FTSE 100 is higher by 0.55%, while France's CAC 40 is off 0.11%. Shares in Germany are unchanged with the DAX at 13,950.04.

EUR/USD touch fresh multi-day highs in the 1.2180 area. The pair gains for the fourth consecutive session so far today. The persistent upside remains underpinned by the persistent fall in the dollar despite the firm note in US yields as of late.

Investors await the testimony of the U.S. Federal Reserve Chair Jerome Powell later in the day where most analysts expect Powell to reiterate the Fed's commitment to maintain a dovish policy.