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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) (2Q) Estimate 2d
Euro GDP (quarterly) (second quarter) estimate 2d
Industrial balance of the euro (June)
This Tuesday is a particularly positive day for the biggest Europeans. The CAC40 recovered 2.41% to lead the way, with the DAX30 and EuroStoxx600 winning 2.04% and 1.68% respectively.
China’s strong economic knowledge and persistent hopes for a faster economic recovery boosted demand for riskier assets that day.
From the United States, Trump’s executive orders over the weekend and hopes for a stimulus package until the end of the week continued to increase support.
With markets in good humour, Russia’s news of Putin’s approval of the first COVID-19 vaccine is also positive.
It was a quiet day in the economic calendar of the euro area. Key statistics included The ZeW economic sentiment figures for Germany and the euro area.
According to the report,
Germany’s economic climate indicator rose from 59.3 to 71.5, above the 58.0 forecast.
The euro indicator rose 4.4 emissions to 64.0.
A resumption of wholesale inflationary pressures supported large European companies later in the session.
In July, the producer price index rose by 0.6%, before the expected accumulation of 0.3%. In June, the IPP fell 0.2%.
For the DAX: it was a bullish day for the automotive industry on Tuesday. Continental recovered 7.19% to lead the way for a moment directly in the day. BMW, Daimler and Volkswagen also discovered forged with profits of 4.41%, 2.02% and 3.40% respectively.
China’s car sales figures gave a special twist to the automotive sector on Tuesday.
It’s also a bullish day for banks. Deutsche Bank rose 1.52%, Commerzbank gained 1.16%.
On the CAC side, it’s a bullish day for banks. BNP Paribas and Crédit Agricole rose 4.68% and 4.85% respectively, while Soc Gen gained 3.69%.
The French automotive sector also found support, with Peugeot and Renault rising by 5.83% and 4.11% respectively.
Air France-KLM followed the most sensitive points with an increase of 2.83%, while Airbus SE recovered 5.72%.
A seven-day race ended on Tuesday, with the VIX rising 8.59%. Reversing a 0.36% drop since Monday, the VIX ended the day at 24.03.
For the S-P500, it has finished a run of 7 consecutive days in it, with generation stocks weighing on the market in general.
While markets had uncovered additional discussions on COVID-19 vaccines, uncertainty persisted over COVID-19’s recovery plan.
There has also been an increase in tensions between the UNITED States and China that markets are expected to take into account before the industry negotiations later this week.
The S-P500 and Dow fell 0.80% and 0.38% respectively, while the NASDAQ fell 1.69%.
It’s another quiet day before the eurozone’s economic calendar. The main statistics come with the June trade production figures for Italy’s main and final inflation figures in July.
Unless there are disastrous figures, statistics are expected to have a moderate effect on the main ones.
In the United States, July inflation figures are at the heart of considerations at the end of the European session.
Away from the economic calendar, geopolitics and Updates to the Capitol will be the focus.
In futures markets, at the time of writing, the DAX dropped 115.5 points, while the Dow rose 48 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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