European markets opened on gains during Tuesdays trading
2018-07-10 08:04 am | Resource: NEWS | No Views : 61
European stocks opened higher on Tuesday as traders bet on a full-scale trade war between the United States and its trading partners.
Asian stocks rose broadly for the third day in a row and oil continued gains on Monday on mounting concerns about a possible supply shortfall, while the dollar index remained flat in Asian trade.
Gold prices rose amid geopolitical tensions after US President Donald Trump said Beijing might seek to derail efforts to denuclearize North Korea.
The pound rose against the dollar after falling on Monday as the departure of two key EU ministers raised concerns about the "difficult Brexit."
European Central Bank policy-maker Ewald Nowotny warned that Britain's faltering exit from the EU could hurt economic growth in the eurozone.
Elsewhere in Germany, Chancellor Angela Merkel signed a series of economic cooperation agreements with the Chinese prime minister, saying the two countries are committed to multilateralism and a rule-based global trading system.
US stocks rose for a third straight session on Monday as economic optimism helped investors shrug off trade war fears. The Dow Jones rose 1.3 percent, while the S & P 500 and the Nasdaq rose 0.9 percent each.
European markets also closed strongly in the positive territory on Monday after positive data from the US, Germany and France.
The European Stoxx 600 index rose 0.6 percent. German DAX and France's CAC 40 gained 0.4 percent, while the FTSE 100 rose 0.9 percent.
Time frame Used - four hours The NASDAQ 100 is moving in a bearish direction in the near term The purchasing power managed to control the movement of the NASDAQ 100 index to break the resistance level around 7315 levels to reach the level of 7380 where it faced resistance and selling pressure pushed it to retreat In view of the technical indicators Both the RSI and the Stochastic are…
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