The uncertainty of world events, specifically American politics and the North Korean missile tests, has lead to mixed results for European markets. Europe is benefiting off of America’s political instability and inability to accomplish certain promises to the voters which has created uncertainty in the markets. This uncertainty has led to a weakening U.S. dollar which has led to gains for the euro and the pound. However, various U.S. companies have experienced a stretch of positive financial results which has driven up the U.S. markets as European markets dip lower.
Key Takeaways:
- Unemployment rates in the EU are currently the lowest since the end of 2008.
- Euro area unemployment has decreased by 0.1% from May to June.
- The lowest unemployment rates are in Northern Europe while Southern Europe is seeing up to a 21.7% unemployment rate.
“The Bank of England’s actions to curtail the growth of unsecured loans has had some impact, but more action is needed”