Summary:

  • US stock indices opened higher as the tensions concerning trade war ease

  • European stocks reverse early gains after Nouy’s remarks

  • Bitcoin remains under pressure

Major US stock benchmarks opened higher on Monday encouraged by the optimism seen in Europe. Speaking of Europe it is worth to note ECB’s Nouy remarks. Daniele Nouy, who is a head of the European Central Bank’s Supervisory Board, said that more and more banks are submitting applications for authorization to operate in the euro area after Brexit comes true. The end of the second quarter of 2018 was set as a deadline for filling applications. In the aftermath of Nouy’s words common currency surged causing EURUSD to move high towards 1.245 mark. As a result of euro strengthening European stock markets reversed early gains to trade significantly below the level of Friday’s close with DAX and FTSE MIB trading more than 1% lower. The technical analysis of the DAX index can be found here. NOK remains the strongest currency amid G10 basket. Gold and silver trade higher as USD slipped to become second worst currency from the Group-of-10 with JPY being the only one performing worse than the greenback. Elsewhere, Bitcoin still struggles in the vicinity of $8k.link do file download link

 DAX (DE30 on xStation5) dipped towards 11700 pts mark in a knee-jerk move following Nouy’s remarks. Source: xStation5