KBC Market Research Desk
KBC Bank
European shares rebound today with the Dax and Cac 40 gaining 1.5%, led by financials, as concerns about BES crisis eased further. US Equities opened higher too, despite mixed earnings and US eco data.
European Union leaders want to block loans for new projects in Russia by two multilateral lenders and broaden the scope of other sanctions in response to Moscow’s actions in Ukraine, Reuters reports pointing to a draft statement.
ECB’s Nowotny casted doubts on whether the ECB will go ahead with its plans to buy asset‐backed securities, saying they were looking with an open mind at the possibility of buying ABS, but it was not certain to go ahead.
In July, the US NAHB Housing market indicator extended its rebound, rising from 49 to 53, while only a marginal rebound was expected. The index is now again at its highest level since January.
Currently, Fed Chairwoman Yellen gives her semi‐annual testimony before the House Committee, which will be followed by a Q&A session. EU Leaders will meet later today in a Summit on key appointments, while also developments in Ukraine will be discussed. The Fed will release its Beige Book.
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 holds firm above 1.0700 ahead of German inflation data
EUR/USD trades on a firm footing above 1.0700 early Monday. The pair stays underpinned by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus.
USD/JPY recovers after testing 155.00 on likely Japanese intervention
USD/JPY is recovering ground after crashing to 155.00 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
Gold price bulls move to the sidelines as focus shifts to the crucial FOMC policy meeting
Gold price (XAU/USD) struggles to capitalize on its modest gains registered over the past two trading days and edges lower on the first day of a new week, albeit the downside remains cushioned.
Ripple CTO shares take on ETHgate controversy, XRP holders await SEC opposition brief filing
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.