European Equities: Private Sector PMIs and ADP Nonfarm Figures in FocusFollowing Tuesday’s pullback, private sector PMIs from the Eurozone and the U.S and labor market numbers from the U.S will influence today.
Wednesday, 5th May 2021
Spanish Services PMI (Apr)
Italian Services PMI (Apr)
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.
French Services PMI (Apr) Final
German Services PMI (Apr) Final
Eurozone Markit Composite PMI (Apr) Final
Eurozone Services PMI (Apr) Final
Thursday, 6th May 2021
German Factory Orders (MoM) (Mar)
IHS Markit Construction PMI (Apr)
Eurozone Retail Sales (MoM) (Mar)
Friday, 7th May 2021
German Industrial Production (MoM) (Mar)
German Trade Balance (Mar)
ECB President Lagarde Speech
It was a particularly bearish day for the European majors on Tuesday. The DAX30 slid by 2.49%, with the CAC40 and the EuroStoxx600 ending the day down by 0.89% and by 1.43% respectively.
With no material stats from the Eurozone to provide direction on the day, a tech sector sell-off weighed on the European majors. Following Monday’s pullback, the NASDAQ continued to fall back on Tuesday, dragging tech stocks in Europe into the red.
News of anticipated supply shortages in the auto sector weighed heavily on the DAX30 in particular, with the auto sector joining tech stocks in the deep red.
It was a particularly quiet day on the economic calendar, with no material stats from the Eurozone to provide direction.
From the U.S
It was a relatively busy day, with factory orders and trade data for March in focus late in the European session.
Factory orders increased by 1.1%, following a 0.5% decline in February. Economists had forecast a 1.3% rise.
The trade deficit widened from $70.4bn to $74.4bn in March. Economists had forecast a widening to $74.50bn.
The Market Movers
For the DAX: It was a particularly bearish day for the auto sector on Tuesday. Daimler tumbled by 5.20%, with BMW and Volkswagen sliding by 3.08% and by 3.94% respectively. Continental saw a more modest 1.03% loss on the day.
It was another mixed day for the banks. Deutsche Bank slid by a further 2.49%, while Commerzbank ended the day up by 0.52%.
From the CAC, it was a bearish day for the banks. Soc Gen slid by 2.23%, with BNP Paribas and Credit Agricole falling by 0.77% and by 1.15% respectively.
It was also a bearish day for the French auto sector. Stellantis NV and Renault ended the day with losses of 0.52% and 2.02% respectively.
Air France-KLM fell by 1.19%, with Airbus SE sliding by 3.18%.
On the VIX Index
It was back into the green for the VIX on Tuesday, marking a 3rd rise in 4-sessions.
Reversing a 1.61% fall from Monday, the VIX rose by 6.39% to end the day at 19.48.
The NASDAQ and the S&P500 fell by 1.88% and by 0.67% respectively, while the Dow eked out a 0.06% gain.
The Day Ahead
It’s a busy day ahead on the European economic calendar. Key stats include service sector PMIs from Italy and Spain. Finalized numbers for Germany, France, and the Eurozone are also due out.
Barring any marked revisions from prelim figures, Italy and the Eurozone’s PMIs will draw the greatest interest.
From the U.S, ADP nonfarm employment change and the market’s favored ISM Non-Manufacturing PMI will also influence later in the day.
In the futures markets, at the time of writing, the Dow Mini was up by 61 points, with the DAX up by 117 points.
For a look at all of today’s economic events, check out our economic calendar.