European stock markets also moved higher yesterday amid a general euphoria caused by the improving climate in Sino-US relations, as evidenced at least by the meeting between Biden and Xi on the sidelines of the G20 summit, as well as the strengthening of the Fed and possibly , all major central banks will soften their transition to restrictive monetary policy. The pan-European Eurostoxx 600 fluctuated between losses and gains yesterday and eventually closed with a modest 0.2% gain, with tech stocks gaining 1.4%, the biggest gain of any sector. Telecoms, on the other hand, fell 1%. The Frankfurt Xetra DAX closed up 0.46%, while the Paris CAC 40 closed up 0.49%, with only the London FTSE 100 posting a slight loss of 0.21%.

Meanwhile, the euro, pound sterling and the Swedish krona strengthened significantly against the dollar yesterday, as investors overestimated some data released on European economies. Among them are figures published yesterday by the German economic institute ZEW, which show that the economic climate in Germany is improving in November. In particular, the euro exchange rate rose by 0.8% and once again exceeded the rate of one for one against the dollar, reaching $ 1.046, because data was published indicating an increase in employment in the euro area in the third quarter of the year. According to Commerzbank analysts, “Worries about the possibility of a deep recession in the winter led to a drop in the confidence index, but with winter looking mild now and natural gas reservoirs full, analysts’ hopes that things will go wrong are rising. it’s going to be so bad.”

Euro, pound sterling and Swedish krona strengthened significantly against the dollar yesterday.

After all, with the tax hikes and spending cuts expected to be announced by the new UK finance minister, the pound gained 1.25% against the dollar to $1,906, its highest level in three months.