KBC Market Research Desk
KBC Bank
- European shares traded higher this morning supported by strong economic data from the euro area, but sentiment turned around noon with most European shares trading slightly lower currently. In the US, Equities opened higher. The S&P gains after having dropped for three consecutive sessions.
- The US manufacturing ISM weakened for a fourth consecutive month in February, although the drop was more contained than in the previous months. The headline index dropped from 53.5 to 52.9, in line with the consensus, which was looking for a drop to 53.
- In February, the UK manufacturing PMI rose for a second straight month, from 53.1 to 54.1, while only a marginal increase was expected. The improvement was underpinned by rising domestic orders, while the export performance deteriorated.
- The European Commission confirmed today it had received complaints from the Portuguese and Spanish governments about comments made over the weekend by Greek Prime Minister Tsipras, pointing to the difficult relationship between Greece and some of its euro zone partners. Tsipras said during the weekend the Spanish and Portuguese government attempted to drive the negotiations to the edge of the cliff, for their own political reasons.
- US Secretary of State John Kerry said Russian Foreign Minister Lavrov that Moscow and the pro-Russian separatists must implement the agreed ceasefire or face consequences that could further hit the Russian economy. Also French President Hollande repeated the call for an immediate ceasefire in Ukraine.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.