News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
DailyFX European Market Wrap: European Markets Up Even as Fed Chair Hints at Hike

DailyFX European Market Wrap: European Markets Up Even as Fed Chair Hints at Hike

Katie Pilbeam,

European markets were gaining for most of the day after Federal Reserve Chair Janet Yellen spoke of a possible rate hike next month. Speaking on Tuesday she said waiting too long to raise interest rates would be "unwise," given the rise in inflation and economic growth.

The market then digested the latest UK jobs numbers with UK unemployment remaining at an 11 year low at 4.8% while real wage growth accounting for inflation, only rose by 1.4% over the last year.

Sterling was lower as a consequence but also feeling the pressure from the Yellen comments as the US dollar stood firm at the 3-week high.

The EU parliament has approved a trade deal with Canada this Wednesday after three hours of debate and years of negotiations prior to that but it’s facing fierce opposition from the likes of the Netherlands which could still block it if it demands an advisory national referendum on the deal. Other figures showed that the number of non-UK nationals working in the UK increased by 233,000 to 3.48 million compared with the same period a year ago.

Political uncertainty in Europe remains a key theme after the President of the Eurogroup warned that Greece and its creditors will not reach a deal before a meeting scheduled for next Monday. If they don’t, it’s possible Greece may have to default on its debt.

--- Written by Katie Pilbeam, DailyFX

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

DISCLOSURES