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US stocks erase losses, USD quiet

FXStreet (Córdoba) - Equities in the US managed to recover from early losses and were rising modestly while European markets ended mixed. The Europe Stoxx 600 was down 0.27% at 331 on Monday.

Among country indexes, the UK FTSE 100 slipped 0.02% while the Germany's Dax lost 0.61%. The France’s CAC 40 rose 0.34%. Italy’s FTSE MIB gained 0.09% while Spain’s IBEX 35 declined 0.27%.

In Wall Street the Dow Jones was up 0.02% at 16,498 while the Nasdaq was climbing 0.35% and the S&P 500 0.25%.

In the FX market, the USD was falling against commodity currencies and rising versus the Euro and the Pound, on a quiet Monday with prices showing marginal changes. Gold was falling $6 trading below $1,290/oz while crude oil was up 0.15%, above $98.00 a barrel.

GBP/USD testing descending trendline resistance

GBP/USD is trading at 1.6845, up 0.14% on the day, having posted a daily high at 1.6848 and low at 1.6814.
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