S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- The Pound Sterling gains buyers’ interest after the release of the stronger-than-expected UK monthly GDP data for February.
- UK monthly GDP grew at a robust pace of 0.5% vs. 0.1% estimates.
- US-Iran truce hopes have battered the US Dollar badly.
The Pound Sterling (GBP) attracts bids against its major currency peers, trading 0.14% higher to near 1.3580 against the US Dollar (USD) during the European trading session on Thursday after the release of the stronger-than-projected United Kingdom (UK) Gross Domestic Product (GDP) data for February.
The Office for National Statistics (ONS) has reported that economy grew 0.5% Month-on-Month (MoM), while it was expected to grow steadily by 0.1%. January’s figure revised higher from 0% to 0.1%.
UK’s Industrial Production data for February has also come in better-than-expected. The data arrives higher at 0.5% against estimates of 0.2%. In January, Industrial Production declined by 0.1%. However, MoM Manufacturing Production has surprisingly contracted by 0.1%, while it was expected to have grown at a faster pace of 0.3% after rising 0.1% in January.
Meanwhile, the US Dollar has been battered badly by optimism that the United States (US) and Iran could announce a permanent ceasefire soon. During the press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades almost flat around 98.00. In the Asian trade, the USD Index posted a fresh six-week low at 97.83.
US-Iran truce hopes are boosted by comments from Washington that both nations are close to end the war soon. On early Wednesday, US President Donald Trump told in an interview with Fox Business, “I think it’s close to over, yeah. I view it as very close to being over,” when asked about how long the war with Iran will remain.
