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Europe Stocks Mixed; Dollar struggles as oil profits: markets wrap

It was a mixed picture of European stocks, as investors digested the weakening of the dollar and a protectionist push by the US. which helped boost the decline of Asian stocks. The dollar fell again, and most commodities won.

Media and travel companies dragged the Stoxx Europe 600 Index after MSCI Asia Pacific recorded losses before. Japanese stocks fell because the yen traded at the strongest level since September; It is one of the main currencies at high levels thanks to the fall of the dollar. The euro rose before the European Central Bank's first policy decision of 2018, and after the data showed an improvement in business confidence in Germany. The MSCI Emerging Markets Currency index hit the strongest in the record.

The weakness of the dollar is also driving raw materials. The Bloomberg commodity index is at its highest level since October 2015, and gold trades at the strongest in more than a year.

Source: Bloomberg)

The endorsement of Treasury Secretary Steven Mnuchin of a weaker dollar as an aid to trade increased the pressure on a dollar that has been in decline for much of last year, although White House press secretary Sarah Sanders softens her comments later. Now the eyes turn to the ECB, where traders will look for new clues about their appetite for the pullback stimulus, and the thoughts of their officials about a strengthening currency.

Investors are also increasingly concerned about the future of world trade as President Donald Trump pushes his protectionist agenda. The Secretary of Commerce, Wilbur Ross, suggested in Davos that the United States could enact more taxes.

On the other hand, the Brazilian real strengthened in eight months and the MSCI Emerging Markets index rose for the tenth day.

Users of the terminal can read more in our markets blog.

Here's what we should watch this week:

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Raw materials

– With the assistance of Samuel Potter, Luke Kawa, Kailey Leinz, Randall Jensen and Cormac Mullen

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