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French CPI (Monthly) (July) Final
French IPCH (MoM) (July) Final
Euro GDP (year-on-year) (2Q) Estimate 2d
Euro GDP (quarterly) (second quarter) estimate 2d
Industrial balance of the euro (June)
It’s a bearish day for the biggest Europeans on Thursday, who failed to make five consecutive daily gains. EuroStoxx600 and CAC40 fell 0.63% and 0.61% respectively, while the DAX30 fell 0.50%.
With the lack of eurozone statistics for supply management, the continued lack of progress at the Capitol has been influenced. If no further support is provided, following Trump’s executive orders, it will be a brake on the U.S. economy and consumption.
While the initial jobless claims were better than expected, continuing jobless claims sat at 15,486k, which is still a staggering number. Back in March, continuing jobless claims had stood at sub-2m before hitting an all-time a COVID-19 high 25,073k in May.
News of the new COVID-19 spikes added anxiety to the market that day.
Another quiet day in the economic calendar of the euro area. The main statistics include the inflation figures completed for Germany and Spain in July.
Germany’s consumer fell 0.5% in July, in line with initial figures. In June, the customer went up 0.6%. July fall led to a year-on-year drop of 0.1% in clientArray
Things were much bigger in Spain. Consumer costs fell by 0.9% in July, in line with initial figures. Year after year, customer costs fell by 0.6%. In June, customer costs rose by 0.5% year-on-year, while 0.3% year-on-year.
Economic knowledge included figures from july’s import and export value index and major weekly unemployment demands.
The focus on the weekly unemployment figures at the end of the European session.
In the week ending August 7, initial unemployment claims 963,000, up from 1,191,000 last week. Economists had predicted that unemployment programs would be 1120k
The best-than-expected figures provided some to the biggest Europeans at the end of the session.
For the DAX: It’s a bearish day for the automotive industry on Thursday. BMW and Volkswagen fell 1.04% and 1.35% respectively to lead the way. Continental and Daimler recorded more modest losses of 0.42% and 0.25% respectively.
It’s also a bearish day for banks. Deutsche Bank fell 1.59%, Commerzbank by 2.46%.
On the CAC side, it’s a bearish day for banks. Crédit Agricole and BNP Paribas fell 2.21% and 2.00% respectively. Soc Gen recorded a more modest loss of 0.80% on the day.
It is also a bearish day for the French automotive sector. Peugeot and Renault fell 1.54% and 2.79% respectively.
Air France-KLM fell 0.30%, and Airbus SE recorded a 2.16% loss on the day.
It’s a back-to-back day in red for the VIX on Thursday. A drop of 0.67% marked a ninth day in red numbers of 10. After a 7.28% drop on Wednesday, the VIX ended the day at 22.13.
Losses for the Dow and S-P500 came despite better-than-expected unemployment applications figures. The inability to advance delivery of the COVID-19 stimulus package posed a scathed on the sense of threat that day.
The S-P500 and Dow fell 0.20% and 0.29% respectively, while the NASDAQ rose 0.27%.
It’s a busy day in the euro’s economic calendar. Key statistics come with the estimate of the moment of the euro dominance GDP figures for the quarter of the moment and the industry figures of June.
Final inflation figures are also expected for July in France, but they will likely have a moderate effect on the main ones.
Although there is some interest in the date of the transaction, markets will be in favour of an upward revision of GDP figures …
In the United States, July’s retail sales and commercial production figures are expected, as are the initial customer sentiment figures for August.
Expect a lot from the numbers.
Second quarter unit labour prices and non-agricultural productivity figures are also expected, but are likely to have a moderate impact.
From the Asian session, China’s economic knowledge will set the tone. July’s retail production and sales figures will be the main drivers.
Away from the economic calendar, geopolitics, COVID-19 news and Capitol Hill updates will be the focus.
In futures markets, at the time of writing, the Dow Jones rose 48 points.
For a review of all of today’s economic events, check out our economic calendar.
This article was originally published on FX Empire
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