The major European stock indices took the ECB's 50 basis point hike in stride. The indices are all closing solidly higher with the Frances CAC leading the way.
A look at the closing levels shows:
- German DAX, +1.57%
- Frances CAC, +2.03%
- UK's FTSE 100 +0.89%
- Spain's Ibex +1.50%
- Italy's FTSE MIB +1.47%
- Euro STOXX index, +1.3%
Looking at the forex market, the AUD is the strongest of the majors. The NZD is the weakest. Overnight, the Australian employment report was stronger than expectations . That has helped that currency. Conversely, GDP was weaker in NZD which got that currency off to a weak start. The USD is mostly lower with declines of -0.16% to -0.47% vs all the major currencies with the exception of the NZD (the USD is up 0.23% vs the NZD). .
The strongest to the weakest of the major currencies