european-stock-markets

Europe stock markets rose,us dollar strong.

On Wednesday,European stock markets increased after minor gains in Asia while the dollar rose before jobs numbers that could help cement expectations that U.S. interest rates will rise next week and strong Chinese import data which signal a recovering economy.
In February leading to a rare trade deficit,China’s imports increased 44.7% from a year earlier on a yuan-denominated basis and 38.1 % in dollar terms.Exports rose 4.2%.
STOXX 600 index rose 0.1%,after falling for the previous 4 trading days.Before the finance minister Philip Hammond unveils his first budget since the UK voted to leave the European Union Britain’s blue-chip FTSE 100 index increase 0.1%.
Sterling was underperforming on the forex market,dropping 0.3% at $1.2161 due to consumer spending report showed under-estimated data consumer,on Tuesday.
The dollar increase 0.2% against other major currencies.The euro dropped 0.1% to $1.0555 a day before a meeting of European Central bank policymakers.The yen was marginally stronger at 113.92 per dollar.
Forex strategist at DZ Bank in Frankfurt,Sonja Marten,said:“Unless the market were to price in a significantly more upbeat picture for the US,which would imply the Fed might move much more dynamically than is currently priced in,whether they hike two time or three times this year isn’t going to matter for the dollar.”