During yesterday’s trading day, on Tuesday, August 29, 2023, according to economic reporters in connection with the analysts of brokerage companies, a positive business trend with growth dynamics was manifested in the trading of European stock markets. Investors and traders thus followed European shares in comparison with their global counterparts, and this comparison was then reflected in a higher interest in European shares, which saw their prices rise within the European stock market. This fact is reflected not only in the growth of individual stock titles, but also in the overall growth of the market according to stock index indicators.
For example, yesterday’s trading day, August 29, 2023, on the stock market of the German stock exchange in Frankfurt am Main, expressed by the German stock index DAX, saw growth by +0.88% points, the French stock index CAC 40 rose by +0.67% points and the overall European stock index The STOXX Europe 50 showed an increase in its daily value by +0.77% points. The point values of these indices increased already at the very beginning of this 35th week of 2023, with the exception of the stock market index of the United Kingdom of Great Britain and Northern Ireland FTSE 100, as Monday 28.8.2023 was a public holiday in the United Kingdom and the markets were closed. However, on Tuesday 29/08/2023, this FTSE 100 index closed with a daily gain of +1.72% of the point value. These final results of Tuesday 29/08/2023 of the European stock market were achieved in a situation where the exchange value of the single European currency, the euro (EUR ) against the US dollar (USD) was in decline in its exchange value.
The mutual exchange rate of this so-called global currency pair EUR/USD was before Tuesday European noon on 29/08/2023, at approximately 11:31 CET, at the exchange rate value of 1.081 USD per EUR with a daily decrease of -0.09% of the rate so far. During this trading day, the euro (EUR) strengthened against the USD, but this did not have a significant effect on the change in the trading trend of the European stock markets with respect to the increasing exchange value of the US dollar (USD) on a global scale, according to stock market financial strategists. Currently, during the European Wednesday morning on August 30, 2023, at approximately 5:49 CET, this global currency pair of the single European currency, the euro (EUR) and the US dollar (USD), was traded as part of the forex operations of the foreign exchange market, as the world reserve currency, in mutual exchange rate at a value of 1.087 USD per EUR with the daily decrease of EUR by – 0.092% against the USD.
The European currency Euro (EUR) also showed a decline against the Swiss Franc (CHF) on the day and time mentioned, with the EUR/CHF currency pair trading at a mutual exchange rate of CHF 0.879 per EUR with the EUR down by -0.042 for the day to date % exchange rate against CHF. This mutual exchange rate was achieved when the exchange value of the USD as measured by the US Dollar Currency Index (DXY), which compares the value of the USD to six major world currencies, showed the point status of the DXY index at USD 103.59 points with the previous daily growth by + 0.05% of the point value according to this index. The American dollar (USD) and especially against the single European currency, the euro (EUR), according to economic correspondents in connection with the financial strategists of the foreign exchange market, continues to prove its dominant position within global economies, including stock and especially commodity markets. Due to the weakening trend in the exchange value of the euro currency (EUR), a continuing trading trend of rising European stock prices can be expected even during the Wednesday trading day of 30 August 2023, financial analysts report.