Stock markets in Europe closed higher today following a difficult week, as the drop in UK, German and French bond yields supported equities.
The jump in the US inflation rate triggered major volatility in the markets as traders now feel the Federal Reserve will be even more hawkish than previously expected.
Earlier today EUR/USD traded at parity, it was the first time the currency pair hit that level since 2002.
Stock markets are lower this afternoon as China has reintroduced restrictions to try and curb the spread of Covid-19.
Equity markets are higher following the well-received US non-farm payrolls report. The update showed that 372,000 jobs were added last month, and that comfortably topped the 250,000 consensus estimate.
Yesterday evening, the Federal Reserve released the minutes from last months meeting.
A dip in government bond yields has paved the way for bargain hunters to swoop in and snap up European equities.
The bears have emerged now that US traders are back in action following their long weekend because of the Independence Day holiday yesterday.
European equity markets are mostly showing modest gains as bargain hunters entered the fold.
Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only
© 2022 Equiti, All Rights Reserved