“R.itemList.length” “- this.config.text.ariaShown
“This.config.text.ariaFermé”
French confidence (August)
Total French task seekers
German time GfK (September)
French Expenditure (MoM) (July)
French GDP (quarterly) (second quarter) final
It’s a combined day for the biggest Europeans on Tuesday. The DAX30 and EuroStoxx600 fell by 0.04% and 0.30% respectively, and the CAC40 completed the day with a drop of 0.01%.
Following the sadness of the personal sector’s PMI indices in August, economic awareness changed on Tuesday.
Optimism about the success of the COVID-19 solution and the relief of tensions between the United States and China were also positive.
Concerns about the eurozone economy, however, are increasing the day.
It was a busy day in the economic calendar of the euro area. Key statistics included 2d GDP estimate figures for the quarter of the moment and IFO figures on the commercial climate in Germany.
According to Destatis,
The German economy is 9.7% in this quarter, following a contraction of 10.1%. At the time quarter, the economy through 2%.
Final household uptake fell by 10.9% and gross capital formation in machinery and appliances fell by 19.6%.
Gross constant capital formation in the structure decreased by 4.2%, reversing most of the 5.1% accumulated during the first quarter of
However, there was a 1.5% increase in the final spending of government clients.
He also considered trade with foreign countries. Exports of goods and fell by 20.3%, imports by 16.0%.
In the same quarter, a year earlier, the economy rose from 11.3%, after a contraction of 11.7%.
According to the IFO, the weather index rose from 90.4 to 92.6. Economists had forecast a decline to 92.2.
According to the August survey,
In the production sector, the business climate has improved, supported by a resumption of the corporations’ assessment of their existing parent. While many corporations still see its existence as bad, their customers have improved.
The sector’s business climate index rose sharply in August. Both the existing scenario and the perspective subscripts were on the rise.
On the other hand, the uptrend of the industry’s weather index has flattened. While corporations are more close to their current situation, pessimism about their customers remains.
IFO’s sub-index of business expectations increased from 97.0 to 97.5, and the existing valuation sub-index rose from 84.5 to 87.9.
It was a quiet day on the economic calendar. Key statistics include August customer confidence figures and housing sector figures for June and July.
In August, CB’s consumer confidence index rose from 91.7 to 84.8. Economists had forecast an increase of 93.0.
In the housing sector:
New home sales increased 13.9% in July, following a 15.1% jump in June. Economists had forecast an increase of 1.3%.
On an annualized basis, sales of new homes 901k, compared to 791k in June. Economists had forecast 785,000 new home sales.
At a maximum year-over-year, the composite index S-P / CS HPI – 20 n.s. accumulation rose to 3.5% in June, after a build-up of 3.6% in May.
However, the figures in the housing sector had a moderate effect on the large European ones.
For the DAX: it’s a combined day for the automotive industry on Tuesday. Continental rose 0.94% to oppose the trend of the day. BMW and Daimler fell 0.26% and 0.64% respectively, while Volkswagen fell 0.13% on the day.
However, it was a bullish day for the banks. Deutsche Bank and Commerzbank closed the day with earnings of 0.59% and 0.66% respectively.
On the CAC side, it’s a combined day for banks. Soc Gen fell 0.30%, while BNP Paribas and Crédit Agricole rose 0.21% and 0.26% respectively.
It is also a combined day for the French automotive sector. Peugeot fell 0.67%, while Renault rose 0.14%.
Air France-KLM rose 1.29%, following the 2.09% rise on Monday, while Airbus SE closed the day with a 0.75% drop.
It’s a third day in a row in red numbers for the VIX. After a 0.75% loss on Monday, the VIX fell 1.52% to end the day on 22.03.
The S-P500 and NASDAQ rose 0.36 consistent with cents and 0.76 consistent with pennies, respectively, while the Dow fell 0.21 consistent with cents.
A mixture of relief from tensions between the United States and China and positive COVID-19 data provided to large companies.
A slowdown in the number of new COVID-19 instances and hopes for a successful remedy and vaccine were positive.
On the geopolitical threat front, he also learned that the United States and China were making progress in the industry negotiations and reaffirmed their commitment to the Phase 1 industry agreement.
It’s a quiet day ahead of the eurozone’s economic calendar. Key statistics come with the french client’s trust and task search totals.
Both sets of figures can be expected to influence the CAC40 at the beginning of the European session.
Later in the day, orders for durable goods and fundamental durable goods from the United States will also influence large European companies.
Away from the economic calendar, the talk in Beijing and Washington and the COVID-19 news will also want to be monitored.
In futures markets, at the time of writing, the DAX rose 2.5 points, while the Dow dropped 51 points.
For a review of all of today’s economic events, check out our economic calendar.
This article was originally published on FX Empire
Natural gas price forecast: Natural gas makes round for the day
USD/CAD Daily Forecast: Resistance at 1.3235 Remains Strong
Natural Fuel Rally Near Resistance of $2.95 – Can succeed at $3.75 or more
Wall Street ends as Apple Split forces Dow reshuffler
DAILY GBP/USD Forecast – The pound will expand a bullish momentum
The Crypto Daily – The Movers and Shakers – August 26, 2020