European markets on the 19th saw stocks fall and yields rise, while the euro held up. Moves in key indicators and rising yields affected market sentiment.
In European markets, euro-dollar held up, but fiscal concerns stemming from demonstrations in France and rising oil prices weighed on the euro, intensifying downward pressure. Euro selling and dollar buying led the market, temporarily driving the euro down to around $1.1187. CFTC Commitments of Traders data showed non-commercial net short euro-dollar positions at approximately 137,573 contracts, reaching a level not seen since January 2016.
Dollar-yen moved gradually higher. As US 10-year Treasury yields, an indicator of long-term US interest rates, rose, yen selling and dollar buying prevailed, with the pair updating the day's high at around ¥158.55. The NAHB housing market index came in below expectations, but the market reaction was limited.
Euro-yen remained firm on the downside. After temporarily falling to around ¥176.92 in the evening, buying back the euro prevailed, and the pair updated the day's high at around ¥177.78 as dollar-yen rose.
European equities were generally weak. The London market fell for the first time in 4 sessions, with political instability in France and uncertainty over the situation in Ukraine prompting selling. The Frankfurt market also fell, led by declines in Rheinmetall, RWE and Deutsche Bank.