European Stocks Lower After Weak Inflation Data

March 16, 2018 Share Print 0

European stock markets struggled for direction on Friday, as traders absorbed reports of another impending prominent departure from the U.S. administration, fueling worries about uncertainty in the White House, and disappointing inflation data for the eurozone.

The Stoxx Europe 600 index DAX, +0.10% was up 0.1% at 377.39, but switching between small gains and losses. The benchmark on track for a 0.3% weekly decline.

Germany’s DAX 30 index DAX, +0.10% rose 0.2% to 12,361.98. Trading in Frankfurt opened about 40 minutes late on Friday after a connectivity issue that prevented equal access for market participants to the trading system.

France’s CAC 40 index PX1, +0.01% was marginally higher at 5,268.47, while the U.K.’s FTSE 100 UKX, +0.14% was up 0.1% at 7,149.88.

Turmoil in the Trump administration has added to volatile trade, with the U.S. president expected to fire his national security adviser H.R. McMaster, according to news reports, which would be the second high-profile firing from the White House this week. Secretary of State Rex Tillerson was replaced with Central Intelligence Agency Director Mike Pompeo on Tuesday.

White House press secretary Sarah Huckabee Sanders dismissed that suggestion in a tweet late Thursday, but administration officials have reportedly confirmed it.

via MarketWatch

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.