Markets fluctuate in Europe and Asia

On Thursday stocks and bonds fluctuated in Europe and Asia as traders assessed the first statements of President Donald Trump’s new economic adviser. U.S. equity futures pared gains and Treasuries drifted higher.

The Stoxx Europe 600 Index was steady, with gains in insurance shares offsetting drops in retail and household goods. Gold edged lower as new White House appointee Larry Kudlow said he’d sell the metal and buy the dollar, which was little changed on Thursday. Norway’s krone rose to its strongest level since early February after its central bank signaled faster interest-rate increases.

Traders mulled prospects for more U.S. trade protectionism after Kudlow signaled support for a strong dollar and took a tough line on China. Lackluster U.S. retail sales data provided the last major economic indicator prior to the Federal Reserve’s policy decision next week. While an increase in borrowing costs at the meeting is seen as a done deal, it remains an open question whether U.S. policy makers will lift their expectations for the pace of future increases.

Elsewhere, oil traded in New York held near $61 a barrel as signs of stronger U.S. fuel consumption balanced OPEC forecasting for the first time that new supplies from its rivals will exceed demand growth this year. Bitcoin recovered some losses after it touched the lowest level in a month.

The Stoxx Europe 600 Index climbed less than 0.05 percent as of 6:53 a.m. New York time. The MSCI All-Country World Index gained less than 0.05 percent. Futures on the S&P 500 Index advanced less than 0.05 percent. The U.K.’s FTSE 100 Index increased 0.2 percent.

The euro declined less than 0.05 percent to $1.2362. The Japanese yen climbed 0.4 percent to 105.92 per dollar, the strongest in almost two weeks on the largest increase in almost two weeks. The British pound fell 0.2 percent to $1.394, the largest fall in a week.

This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.