Economic sentiment figures from Germany and the Eurozone to provide direction later today, ahead of stats from the U.S.
German ZEW Economic Sentiment (Apr)
German ZEW Current Conditions (Apr)
Eurozone ZEW Economic Sentiment (Apr)
Spanish CPI (YoY) (Mar) Final
Spanish HICP (YoY) (Mar) Final
Eurozone Industrial Production (MoM) (Feb)
German CPI (MoM) (Mar) Final
French CPI (MoM) (Mar) Final
French HICP (MoM) (Mar) Final
Italian CPI (MoM) (Mar) Final
Eurozone Core CPI (YoY) (Mar) Final
Eurozone CPI (YoY) (Mar) Final
Eurozone CPI (MoM) (Mar) Final
Eurozone Trade Balance (Feb)
It was a relatively bearish start to the week on Monday. The EuroStoxx600 fell by 0.46%, with the CAC40 and DAX30 both ending the day down by 0.13%.
Economic data was in the lighter side throughout the day, leaving the majors with little direction.
The lack of stats left concerns over the impact of low vaccination rates across the EU on the economic outlook to peg the majors back.
It was a quieter day on the economic calendar on Monday.
In February, retail sales increased by 3.0% month-on-month, partially reversing a 5.2% slide from January. Economists had forecast a 1.5% rise.
According to Eurostat,
It was a particularly quiet start to the week, with no material stats from the U.S to provide the majors with direction.
For the DAX: It was a mixed day for the auto sector on Monday. Daimler led the way, rising by 1.72%, with Continental and BMW gaining 1.06% and 0.96% respectively. Volkswagen bucked the trend, however, falling by 0.72%.
It was also a mixed day for the banks. Deutsche Bank rose by 0.68%, while Commerzbank fell by 0.32%.
From the CAC, it was a mixed day for the banks. BNP Paribas and Credit Agricole slipped by 0.08% and 0.03% respectively. Soc Gen found support, however, rising by 0.87%.
It was also a mixed day for the French auto sector. Stellantis NV rose by 0.93%, while Renault declined by 0.17%.
Air France-KLM and Airbus SE ended the day with losses of 1.56% and 1.19% respectively.
A run of 3 consecutive days in the red came to an end for the VIX on Monday.
Partially reversing a 1.53% decline on Friday, the VIX rose by 1.32% to end the day at 16.91.
The NASDAQ fell by 0.36%, with the Dow and the S&P500 ending the day with modest losses of 0.16% and 0.02% respectively.
It’s a busier day ahead on the European economic calendar. April ZEW Economic Sentiment figures for Germany and the Eurozone will be in focus later today.
Expect plenty of interest in the numbers, with market sensitivity to sentiment on the rise of late.
From the U.S, March inflation figures will also draw interest later in the day.
Away from the economic calendar, updates on the EU’s vaccination program will also need monitoring on the day.
In the futures markets, at the time of writing, the Dow Mini was down by 16 points.
For a look at all of today’s economic events, check out our economic calendar.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.