Important EU data and rising markets – What to expect this week?
Important news for the week
- Mon, 24th, 09:30 CET FR PMI index.
- Mon, 24th, 14:45 CET US Manufacturing PMI.
- Wed, 26th, 01:30 CET AU Consumer price index.
- Thu, 27th, 13:30 CET US Final GDP.
- Fri, 28th, 13:30 CET US Core PCE price index.
European Economy
This week an array of data from the Eurozone might reveal interesting stats for the economy. Earlier today French PMI data painted a slightly positive picture. Manufacturing numbers increased from 45.8 to 48.9, which is getting close to the 50 level and hence would mark expansion. Despite the negative market sentiment figure might help to show positivity for the economy as well as the EUR overall. Despite lower interest rates in the Eurozone the common currency continues to rise and the trend might continue.
Market talk
The positive sentiment in financial markets returns. Most indices like the NASDAQ and S&P 500 resumed early trading this week at higher levels. Current support based on weekly charts seem to hold offering further upside potential for now. Also crypto markets seem to follow in particular with some help of the Dollar weakness. US legislation from the regulatory side could also add some positivity in markets. The risk sentiment remains mixed in general: Gold prices continue to run higher and might remain in positive mode as investors try to balance their portfolios. Furthermore it seems that big central banks continue to add to their reserves adding more buying pressure to markets.
Tendencies in the markets
- Equities positive, USD stronger, cryptos positive, oil higher, Silver sideways, Gold positive, JPY stronger.
Author
Frank Walbaum
FX Strategies.Asia
Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.
