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German ZEW Current (August)
German sentiment ZEW (August)
Feeling of EUrozone ZEW (August)
Italian CPI (Monthly) (July) Final
Commercial production in euros (MoM) (June)
German CPI (Monthly) (July) Final
Spanish CPI (year-on-year) (July) Final
Spanish IPCA (YoY) (July) Final
French CPI (Monthly) (July) Final
French IPCH (MoM) (July) Final
Euro GDP (year-on-year) (second quarter) Estimate 2d
Euro GDP (quarterly) (second quarter) estimate 2d
Industrial balance of the euro (June)
Friday will be a bullish weekend for the biggest Europeans. The DAX30 rose 0.66% to lead the way, with the CAC40 and EuroStoxx600 gaining 0.09% and 0.29% respectively.
Economic knowledge provided much-needed that day, with the big Europeans recovering from the initial losses.
Trump’s latest anti-China motion had weighed on the appetite for threats at the start of the European session. On Thursday night, Trump announced a ban on transactions with Chinese owners of the TikTok and WeChat apps since September expired.
It’s a quieter day in the euro area’s economic calendar. Key statistics included commercial production in June and industry knowledge in Germany.
Statistics tilted towards the positive, with commercial production rising by 8.9%, after a 7.4% increase in May.
Commercial knowledge also impressed, with Germany’s industry surplus moving from 7.5 billion euros to 14.5 billion euros at the end of the quarter.
Economic knowledge included figures for place in the July labour market. After unemployment figures were better than expected, July’s labor market location figures generated riskier assets with greater support.
Non-agricultural wages rose to 1,763,000 in July, leading to a fall in unemployment from 11.1% to 10.2%.
For the DAX: it’s a bearish day for the automotive industry on Friday. Continental and Volkswagen fell 3.28% and 1.27% respectively. BMW and Daimler recorded more modest losses of 0.38% and 0.58% respectively.
However, it is a combined day for banks. Deutsche Bank rose 0.63%, while Commerzbank fell 0.58%.
On the ACC side, it’s also a combined day for banks. Crédit Agricole rose 0.14%, while BNP Paribas and Soc Gen fell by 0.99% and 0.03% respectively.
It’s a combined day for the French automotive industry. While Peugeot fell 0.14%, Renault closed the day with a 1.29% profit.
Air France-KLM fell 0.34%, while Airbus SE rose 1.42% on the day.
It’s a sixth consecutive day in red numbers for the VIX on Friday. After a 1.48% loss on Thursday, the VIX fell 1.94% to finish the day at 22.21.
Although lawmakers failed to succeed in an agreement, better-than-expected hard-working market figures supported U.S. inventory markets.
Technology actions, however, have struggled as markets reacted to Trump’s latest resolution, China.
The S-P500 and Dow rose 0.06% and 0.17%, respectively, while the NASDAQ fell 0.87%.
It’s a quiet day in the euro area economic calendar. There are no statistics to consult the biggest Europeans that day.
The lack of statistics will leave big companies in the hands of U.S. geopolitics and job offerings. S JOLT to be published after which they will be published at the European session.
Tensions between the United States and China and the US COVID-19 stimulus package will want to be monitored.
In futures markets, at the time of writing, the DAX rose 43 points, the Dow rose 7 points.
For a review of all of today’s economic events, check out our economic calendar.
This article was originally published on FX Empire
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