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ECB President Lagarde speaks
Instant confidence in the eurozone
German weather GfK (October)
Spanish GDP (quarterly) (second quarter)
French-produced PMI (September) Prelim
PMI French Services (September) Preliminary
German Manufacturing PMI (September) Prelim
German PMI (September) preliminary
Euro production PMI (September) Prelim
Markit composite PMI for euro (September) Prelim
PMI Eurozone Services (September) Prelim
German IFO Business Climate Index (September)
Friday was a bassist weekend for major Europeans. The CAC40 fell by 1. 22%, with the DAX30 and EuroStoxx600 ending the day with losses of 0. 70% and 0. 66% respectively.
A new coVID-19 uptick in EU Member States fished over the great Europeans that day.
Prior to the European session, WHO warned of a “very serious situation” looming in Europe. In order to encourage intake and tourism, governments have been active in reopening their respective economies.
With a dependence on intake for an economic recovery, the latest peaks increase the chances of additional blocking measures.
Brexit and tensions between the US and the US are not the only ones in the world to do so. But it’s not the first time And China added new tensions to the big leagues at the end of the week.
It is another quiet day in the economic calendar of the euro area. Key statistics include August wholesale inflation figures in Germany.
Germany’s manufacturers’ value index staned in August, after expanding to 0. 20% in July. While monitoring a 0. 1% drop, market nervousness in the face of deflationary pressures put big business to the test of European openness.
However, with lighter statistics, there was not much to distract the U. S. -China sputum markets, Brexit and COVID-19.
Key statistics included customer sentiment and expectations figures before September.
While any of the statistics were definitely sesatic, any of the signs remained well below pre-pandemic levels.
In September, Michigan’s consumer sentiment index rose from 74. 1 to 78. 9, to initial figures. As the forecast of 75. 0 was advanced, the indicator remained at 101. 0 for January.
For the DAX: it’s a bearish day for the automotive industry on Friday. Continental and Volkswagen fell 3. 97% and 3. 52% respectively. BMW and Daimler recorded more modest losses of 1. 72% and 1. 91% respectively.
It was also a bearish day for the banks. Deutsche Bank and Commerzbank fell by 1. 38% and 3. 11%, respectively.
On the CAC side, it was a bearish day for the banks. Crédit Agricole and Soc Gen fell by 3. 16% and 3. 05% respectively. BNP Paribas closed the day with a 2. 34% drop.
However, it is a clearly bearish day for the French automotive sector. Peugeot and Renault finished the day with losses of 4. 35% and 4. 03% respectively.
Air France-KLM fell by 1. 93% and Airbus SE 3. 54%.
He returns in red for the VIX, finishing a 2 consecutive day race in green.
On Friday, the VIX fell by 2. 38%. By investing 1. 61% since Thursday, the VIX ended the day at 25. 83.
USA: Chinese tension over TikTok and WeChat, emerging instances of COVID-19, and Fed accommodative outlook weighed on major ones.
The NASDAQ and the S
It is a quiet day in the economic calendar of the euro area. There are no statistics to consult large companies.
In the absence of U. S. statistics, discussions about Beijing’s retaliation over Trump’s attacks on Chinese corporations will control the big ones.
Brexit and the recent increase in new instances of COVID-19 should also be taken into account. Continued accumulation in new instances can lead to the reintroduction of containment measures that would release bloodless water into any sustainable economic recovery.
On the front lines of financial policy, Lagarde is expected to speak later in the day, however, there will be too many surprises after the ECB’s last press conference, assuming Lagarde refrains from talking about the exchange rate threat to the euro’s economic recovery. Area. . .
In futures markets, at the time of writing, the Dow Jones rose 15 points, while the DAX dropped 32 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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