It's a particularly quiet start to the week on the economic data front, with no major stats from the Eurozone or the U.S to influence. The lack of stats will leave the majors to take their cues from the U.S...
Spanish CPI (YoY) (Aug) Final
Spanish HICP (YoY) (Aug) Final
French CPI (MoM) (Aug) Final
French HICP (MoM) (Aug) Final
Italian CPI (MoM) (Aug) Final
Eurozone Wages in euro zone (YoY) (Q2)
Eurozone Industrial Production (MoM) (Jul)
Eurozone Trade Balance (Jul)
Eurozone Core CPI (YoY) (Aug) Final
Eurozone CPI (MoM) (Aug) Final
Eurozone CPI (YoY) (Aug) Fina
It was a bearish end to the week for the European majors on Friday.
The CAC40 and the EuroStoxx600 fell by 0.31% and 0.26% respectively, with the DAX30 ending the day down by 0.09%.
Economic data from the Eurozone was limited to finalized inflation figures from Germany, which had a muted impact on the majors.
From the U.S, wholesale inflation figures for August also had a muted impact as the markets responded further to the ECB’s shift in stance on monetary policy.
Finalized German inflation figures were in focus ahead of the European open.
In August, consumer prices stalled after having risen by 0.90% in July. Germany’s annual rate of inflation picked up from 3.8% to 3.9%, which was in line with prelim figures.
According to Destatis,
Wholesale inflation was in focus late in the European session.
In August, the U.S annual rate of wholesale inflation accelerated from 7.8% to 8.3%. The core annual rate of wholesale inflation picked up from 6.2% to 6.7%. Month-on-month, the producer price index rose by 0.7% after having risen by 1.0% in July.
For the DAX: It was another mixed day for the auto sector on Friday. Volkswagen fell by 0.39% to buck the trend on the day. BMW ended the day up by 0.40%, with Daimler and Continental rising by 0.58% and by 0.77% respectively, however.
It was a bearish day for the banks, however. Deutsche Bank and Commerzbank fell by 0.23% and by 0.15% respectively.
From the CAC, it was a mixed day for the banks. BNP Paribas and Credit Agricole fell by 1.71% and by 1.09% respectively, while Soc Gen ended the day up by 0.08%.
It was also a mixed day for the French auto sector. Stellantis NV rose by 0.10%, while Renault fell by 0.32%.
Air France-KLM slid by 2.24%, with Airbus SE falling by 0.73%.
It was a 2nd consecutive day in the green the VIX on Friday.
Following a 4.68% gain on Thursday, the VIX jumped by 11.44% to end the day at 20.95.
On Friday, the NASDAQ fell by 0.87%, with the Dow and S&P500 ending the day down by 0.78% and by 0.77% respectively.
It’s a particularly quiet day ahead on the Eurozone’s economic calendar.
There are no material stats due out of the Eurozone to provide the majors with direction at the start of the week.
From the U.S, there are also no major stats to provide the majors with direction late in the session.
The lack of stats will leave the majors in the hands of COVID-19 news updates and any central bank chatter on the day.
Late in the day, the majors will likely take direction from the U.S majors.
In the futures markets, at the time of writing, the Dow Mini was up by 80 points.
For a look at all of today’s economic events, check out our economic calendar.
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.