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20 Feb 2014
Markets advance despite poor data
FXStreet (Edinburgh) - US equities are posting strong gains on Thursday following the multi-year high from the manufacturing PMI gauged by Markit.
Markets are largely ignoring softer prints from the Chinese and European manufacturing and services PMIs in February, as well as the steep drop from the Philly index in January. DowJones is up 0.70% followed by the S&P500, 0.60% and the Nasdaq, 0.50%. The greenback, in terms of the DXY, is now surrendering initial gains after posting fresh highs near 80.50.
In the Old Continent, bourses ended in a positive tone with the exception of the German DAX, retreating 0.43% for the day. The main indices managed to leave behind the weaker Chinese data and mixed readings in the euro bloc, closing with decent gains: CAC40, 0.33%, FTSE100, 0.24% and IBEX35, 0.08%. The single currency was punished after in the wake of the PMI prints, however managing to recover the key 1.3700 handle after dipping around 1.3680.
In the commodities’ land, the ounce troy of gold is losing 0.22% at $1,317 while the barrel of WTI is following the same path: down 0.47% at $102.85.
Markets are largely ignoring softer prints from the Chinese and European manufacturing and services PMIs in February, as well as the steep drop from the Philly index in January. DowJones is up 0.70% followed by the S&P500, 0.60% and the Nasdaq, 0.50%. The greenback, in terms of the DXY, is now surrendering initial gains after posting fresh highs near 80.50.
In the Old Continent, bourses ended in a positive tone with the exception of the German DAX, retreating 0.43% for the day. The main indices managed to leave behind the weaker Chinese data and mixed readings in the euro bloc, closing with decent gains: CAC40, 0.33%, FTSE100, 0.24% and IBEX35, 0.08%. The single currency was punished after in the wake of the PMI prints, however managing to recover the key 1.3700 handle after dipping around 1.3680.
In the commodities’ land, the ounce troy of gold is losing 0.22% at $1,317 while the barrel of WTI is following the same path: down 0.47% at $102.85.