Strong euro could act as headwind for Europe inc
STOXX 600 up 0.3%
Swiss stocks underperform
Autos provide lift
Markets await Fed Chair Powell speech
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STRONG EURO COULD ACT AS HEADWIND FOR EUROPE INC
The euro has appreciated nearly 3% against the dollar this month, hitting $1.11735, its highest level in more than a year, and analysts at Barclays think any further strength might start to act as a headwind for European companies.
The single-currency is now the second-best performing major currency against the dollar this year, and is at its highest in trade-weighted terms on record.
And while Barclays says strength in the currency is not yet an issue for European companies, it could start to weigh.
"Any further EUR strength won't likely be helpful against an already tepid European/Chinese growth backdrop, and remaining political risk in the EU," Barclays strategists write, citing uncertainty over the French government and upcoming regional elections in eastern Germany.
(Samuel Indyk)
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FRIDAY'S OTHER LIVE MARKETS POSTS:]
THE VOLATILITY SPIKE THAT IS HARD TO FORGET CLICK HERE
EUROPEAN SHARES INCH UP, SWITZERLAND UNDERPERFORMS CLICK HERE
EUROPEAN FUTURES HOLD THEIR BREATH BEFORE POWELL CLICK HERE
BOJ'S UEDA BOLSTERS YEN. UP NEXT, POWELL CLICK HERE
Japan's core-core inflation dips below 2% https://reut.rs/4cDV24c
Graphic-Stocks on Powell's Jackson Hole speech days https://reut.rs/3AssQE1
European equities mostly higher, Switzerland lags https://reut.rs/3T1CDHT
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