European equities opened in the red after the sell-off in US equities yesterday. DAX found a low at 9,614 before moving back up to 9,794.

The CAC 40 exhibited similar behavior, finding its stride halfway through the trading session and moving up from 4,235 to 4,313. CAC still closed down by 1.8%. the FTSE 100 saw a better trading session, closing 0.72% lower, but still higher than its session low.

The BoE took the headlines today after they decided to hold UK interest rates at record-low 0.5%. The BoE decided to hold their asset purchase program steady, at 375 billion GBP. Overall, the BoE tone was dovish, sending the GBP plunging against major counterparts.

Gold is trading lower after stocks rebounded, with investors ditching the safe haven asset. Gold is down by 0.82% to 1078. Crude oil is rallying, trading 2.72% higher.

Written by Paul Rosenberg, analyst for www.EconomicCalendar.com