Bob Mason
Add to Bookmarks
Growing Euro notes arrows over the flag of European Union.

Economic Calendar:

Monday, 17th May

Italian CPI (MoM) (Apr) Final

Tuesday, 18th May

Eurozone GDP (YoY) (Q1) – 2nd Estimate

Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Eurozone GDP (QoQ) (Q1) – 2nd Estimate

Eurozone Trade Balance (Mar)

Wednesday, 19th May

Eurozone Core CPI (YoY) (Apr) Final

Eurozone CPI (MoM) (Apr) Final

Eurozone CPI (YoY) (Apr) Final

Friday, 21st May

French Manufacturing PMI (May) Prelim

French Services PMI (May) Prelim

German Manufacturing PMI (May) Prelim

German Services PMI (May) Prelim

Eurozone Manufacturing PMI (May) Prelim

Eurozone Markit Composite PMI (May) Prelim

Eurozone Services PMI (May) Prelim


The Majors

It was a bullish end to the week for the European majors on Friday, with the DAX30 and CAC40 managing to reverse losses from earlier in the week.

The CAC40 and the DAX30 rose by 1.54% and by 1.43% respectively, with the EuroStoxx600 ending the day up by 1.19%.

There were no major stats from the Eurozone to provide the majors with direction at the end of the week.

Market optimism towards a sharp economic recovery returned as EU member states look to reopen borders for the summer.

From the U.S, while retail sales figures disappointed in April, record savings rates amongst consumers also pointed to a marked pickup in consumption down the road. This was coupled with further assurances by the FED that policy would remain unchanged near-term, which supported demand for riskier assets.

The Stats

Economic data was limited to finalized April inflation figures from Spain that had a muted impact on the majors.

From the U.S

It was a busier day on the economic calendar on Friday. Retail sales, consumer sentiment, and industrial production figures were in focus.

It was a mixed bag on the data front.

Consumer sentiment weakened in May. According to prelim figures, the Michigan Consumer Sentiment Index fell from 88.3 to 82.8 with the consumer expectations index falling from 82.7 to 77.6.

Retail sales stalled in April, after having surged by 10.7% in March. Core retail sales unexpectedly fell by 0.8% after a 9% increase in March,

While the numbers were disappointing, an upward trend in the personal saving rate across the U.S suggests a marked pickup in spending in the months ahead.

This eased market concerns over a possible tightening of the purse strings through the summer. According to the bea, the personal saving rate jumped by 27.6% in March.

Industrial production was on the rise once more in April. Following a 2.4% increase in March, production was up 0.7%, month-on-month. Year-on-year, production was up 16.49%.

The Market Movers

For the DAX: It was a bullish day for the auto sector on Friday. BMW and Daimler rallied by 2.83% and by 2.71% respectively. Continental and Volkswagen weren’t far behind, ending the day with gains of 2.41% and 2.59% respectively.

It was also a bullish day for the banks. Deutsche Bank rose by 1.93%, with Commerzbank rallying by 3.65%.

From the CAC, it was a bullish day for the banks. BNP Paribas and Soc Gen ended the day up by 1.75% and by 1.56% respectively. Credit Agricole rose by a more modest 0.76% on the day.

It was also a bullish day for the French auto sector. Stellantis NV rose by 1.41%, with Renault rallying by 3.26%.

Air France-KLM and Airbus SE saw solid gains of 3.64% and 3.72% respectively.

On the VIX Index

It was a second consecutive day in the red for the VIX on Friday.

Following on from a 16.17% decline on Thursday, the VIX slid by 18.68% to end the day at 18.81.

The NASDAQ rallied by 2.32%, with the Dow and the S&P500 ending the day up by 1.06% and by 1.49% respectively.

The Day Ahead

It’s a particularly quiet day ahead on the European economic calendar. Finalized April inflation figures from Italy are due out.

We don’t expect the numbers to have a material impact on the majors.

From the U.S, NY Empire State Manufacturing figures for May will draw interest later in the day, however.

Ahead of the European open, fixed asset investment, industrial production, and retail sales figures from China will set the tone.

The Futures

In the futures markets, at the time of writing, the Dow Mini down up by 23 points.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker