It was a bullish end to the week for the European majors on Friday.
Following on from a relatively bullish day on Thursday, the DAX30 rallied by 1.34%, to lead the way. The CAC40 and the EuroStoxx600 saw more modest gains of 0.85% and 0.90% respectively.
Positive stats from China and the U.S provided support for the European majors at the end of the week.
Corporate earnings delivered further upside for German autos and the DAX30. At the end of the week, Daimler released prelim Q12021 results. Favorable sales momentum at Mercedes driven by strong demand, from China in particular, delivered better than expected results.
4/16/2021 2:06:44 PM GMT | By Eren Sengezer
Consumer confidence in US continued to improve in April.
US Dollar Index stays in the negative territory below 91.60.
The Consumer Sentiment Index in the US rose modestly to 86.5 (preliminary) in April from 84.9 in March, the University of Michigan s latest Surveys of Consumers showed on Friday. This reading came in lower than the market expectation of 89.6.
Further details of the publication revealed that the Current Economic Conditions Index improved to 97.2 from 93 and the Consumer Expectations Index stayed unchanged at 79.7. Finally, the 1-year Inflation Outlook edged higher to 3.7% from 3.1%.
Market reaction
This report doesn t seem to be having a significant impact on the greenback s performance against its rivals. As of writing, the US Dollar Index was down 0.1% on the day at 91.57.
US: UoM Consumer Sentiment Index improves to 84 9 (final) in March vs 83 6 expected fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.