Advertisement
Advertisement
European Equities: German Trade Data in Focus
By:
After a quiet session on Tuesday, economic data from Germany and Italy will need to impress as the markets await U.S inflation figures due out on Thursday.
Economic Calendar
Wednesday, 9th February
German Trade Balance (Dec)
Thursday, 10th February
EU Economic Forecasts
The Majors
It was a relatively bullish day for the European majors on Tuesday. The EuroStoxx600 rose by 0.01%, with the CAC40 and the DAX gaining 0.27% and 0.23% respectively.
There were no major stats from the Eurozone to provide the European markets with direction. The lack of stats left the boerses flat on the day, as the markets await U.S inflation figures due out on Thursday. With the FED now ready to tackle inflation, another pickup in inflationary pressure would support a more aggressive rate path for the year.
The Stats
There were no major stats from the Eurozone to provide the markets with direction.
From the U.S
Trade data for December had a muted impact on the majors. The U.S trade deficit widened from $79.30bn to $80.70bn at the end of the year.
The Market Movers
For the DAX: It was a mixed day for the auto sector on Tuesday. Continental rallied by 4.97%, with BMW and Volkswagen rising by 0.06% and by 0.30% respectively. Daimler ended the day flat.
It was a bullish day for the banks, however. Deutsche Bank rallied by 4.94%, with Commerzbank gaining 2.66%.
From the CAC, it was a bullish day for the banks. Credit Agricole and Soc Gen saw gains of 1.65% and by 1.75% respectively, with BNP Paribas ending the day up by 0.47%.
The French auto sector also had a bullish session. Stellantis NV and Renault rose by 1.59% and by 1.25% respectively.
Air France-KLM rallied by 4.70%, with Airbus SE ending the day up by 2.39%.
On the VIX Index
It was a 3rd consecutive day in the red for the VIX on the Tuesday.
Following a 1.55% fall on Monday, the VIX declined by 6.21% to end the day at 21.44.
The S&P500 ended the day up by 0.84%, with the Dow and the NASDAQ seeing gains of 1.06% and 1.28% respectively.
The Day Ahead
It’s a relatively quiet day ahead on the Eurozone’s economic calendar. German trade data and Italian industrial production figures will be in focus early in the European session. Following a quiet session on Tuesday, the numbers will need to impress to deliver a 3rd consecutive day in the green for the majors.
From the U.S, there are no stats to consider, however, ahead of tomorrow’s inflation figures. The lack of stats will leave the U.S equity markets to provide direction late in the session.
The Futures
In the futures markets, at the time of writing, the Dow Mini was up by 55 points.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Bob Masonauthor
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.
Advertisement