European shares erase earlier gains. Close mostly lower

The major European indices erased solid gains and are closing mostly lower on the day. At the highs, the

  • German DAX was up 1.42%
  • France’s CAC was up 1.73%
  • UK’s FTSE 100 was up 0.74%
  • Spain’s Ibex was up 1.34%
  • Italy’s FTSE MIB was up 1.31%

The provisional closes are now showing:

  • German DAX, -0.5%
  • France’s CAC, -0.1%
  • UK’s FTSE 100, +0.05%
  • Spain’s Ibex, -0.7%
  • Italy’s FTSE MIB -0.3%

As European traders exit for the exit, the NZD remains the strongest of the major currencies but has given up some of their gains. The RBNZ the hiked rates by 25 basis points but it was a close call between 25 and 50 basis points.

The GBP is now the weakest of the majors after breaking below its 200 day moving average at 1.35765. The price is trading to new session lows as the European session comes to a close (new low at 1.35472).

The US dollar is still lower, but off its lowest levels. At the start of the North American session the US dollar was the weakest of the majors.

forex

The strongest to weakest of the major currencies

In the US  stock market 
Stock Market

A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still done through brokers and electronic trading platforms. What Makes Up the Global Stock Market?The stock market itself consists of a global network of stock exchanges, which most developed countries have access to. Presently there are over 60 such exchanges with a total market capitalization of over $70 trillion.The largest stock markets are the United States, Japan, and Great Britain, with numerous other exchanges worldwide following behind. Retail investors rely on the stock market for all their equity or share trading needs. This function has been assumed by online stock brokers, which have largely replaced the need for dealing with popularized trading floors for retail trading needs.A stock broker is an agent or intermediary between investors and the stock market. Stock brokers play an important role in online trading and have grown in scale and coverage in recent years.Stock brokers historically have charged for transactions and other services though crucially have shifted to commission-less transactions over the past few years after being disrupted by fintechs and other companies.

A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still done through brokers and electronic trading platforms. What Makes Up the Global Stock Market?The stock market itself consists of a global network of stock exchanges, which most developed countries have access to. Presently there are over 60 such exchanges with a total market capitalization of over $70 trillion.The largest stock markets are the United States, Japan, and Great Britain, with numerous other exchanges worldwide following behind. Retail investors rely on the stock market for all their equity or share trading needs. This function has been assumed by online stock brokers, which have largely replaced the need for dealing with popularized trading floors for retail trading needs.A stock broker is an agent or intermediary between investors and the stock market. Stock brokers play an important role in online trading and have grown in scale and coverage in recent years.Stock brokers historically have charged for transactions and other services though crucially have shifted to commission-less transactions over the past few years after being disrupted by fintechs and other companies.
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