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DailyFX European Market Wrap: DAX, FTSE Mixed Ahead of FOMC, Brexit Bill

DailyFX European Market Wrap: DAX, FTSE Mixed Ahead of FOMC, Brexit Bill

Jeremy Naylor, Contributor


A solid start to February for European markets as investors focus on corporate earnings.

A boost for basic resources also helping the London bourse after data showed an expansion in Chinese industrial production. Also playing into the market is the dollar declines we have seen over the past month, the worst January in 30 years. President Trumps comments, that currency devaluation by other countries had increased drugmakers' outsourcing of their production hitting the currency hard.

President Trump said countries like Japan, China and Germany 'play the market while we sit like a bunch of dummies', signalling a possible change in stance regarding the strong dollar policy.

Later today, the Federal Reserve meets for its February policy meeting, At the same time, 19:00 GMT, UK Parliament is huddling to vote on the government's Brexit bill.

--- Written by Jeremy Naylor, DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.