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ECB President Lagarde speaks
Eurozone consumer flash
German weather GfK (October)
Spanish GDP (quarterly) (second quarter)
French-produced PMI (September) Prelim
PMI French Services (September) Preliminary
German manufacturing PMI (September) Prelim
German PMI (September) preliminary
Euro production PMI (September) Prelim
Markit composite PMI for euro (September) Prelim
PMI Eurozone Services (September) Prelim
German IFO Business Climate Index (September)
Friday was a bassist weekend for major Europeans. The CAC40 fell by 1. 22%, with the DAX30 and EuroStoxx600 ending the day with losses of 0. 70% and 0. 66% respectively.
A new coVID-19 uptick in EU Member States fished over the great Europeans that day.
Prior to the European session, WHO had warned of a “very serious situation” looming in Europe. With the aim of reviving recruitment and tourism, governments have been active in reopening their respective economies.
With a dependence on intake for an economic recovery, the latest peaks increase the chances of additional blocking measures.
Brexit and tensions between the US and the US are not the only ones in the world to do so. But it’s not the first time And China added new tensions to the big leagues at the end of the week.
Another quiet day in the economic calendar of the euro area. The main statistics include the August wholesale inflation figures in Germany.
Germany’s manufacturers value index stalled in August, after expanding to 0. 20% in July. While it exceeded expectations of a 0. 1% drop, the market’s nervousness in the face of deflationary pressures put large companies to the test of opening the ecu.
However, with lighter statistics, there was not much to distract the markets from Sino-American spit, Brexit and COVID-19.
Key statistics included confidence figures and customer expectations before September.
While any of the statistics were definitely sesatic, any of the signs remained well below pre-pandemic levels.
In September, Michigan’s consumer sentiment index rose from 74. 1 to 78. 9, to initial figures. While ahead of the 75. 0 forecast, the indicator remained at 101. 0 for January.
For the DAX: it’s a bearish day for the automotive industry on Friday. Continental and Volkswagen fell 3. 97% and 3. 52% respectively. BMW and Daimler recorded more modest losses of 1. 72% and 1. 91% respectively.
It was also a bearish day for the banks. Deutsche Bank and Commerzbank fell by 1. 38% and 3. 11%, respectively.
On the CAC side, it was a bearish day for the banks. Crédit Agricole and Soc Gen fell by 3. 16% and 3. 05% respectively. BNP Paribas closed the day with a 2. 34% drop.
However, it is a clearly bearish day for the French auto sector. Peugeot and Renault ended the day with losses of 4. 35% and 4. 03% respectively.
Air France-KLM fell by 1. 93%, with Airbus SE 3. 54%.
It returns in red for the VIX, finishing a race of 2 consecutive days in green.
On Friday, the VIX fell by 2. 38%. By investing 1. 61% since Thursday, the VIX ended the day at 25. 83.
USA: Chinese tension over TikTok and WeChat, emerging instances of COVID-19, and Fed accommodative outlook weighed on major ones.
The NASDAQ and the S
It is a quiet day in the economic calendar of the euro area. There are no statistics to consult large companies.
In the absence of U. S. statistics, discussions about Beijing’s retaliation over Trump’s attacks on Chinese corporations will control the big ones.
Brexit and the recent increase in new instances of COVID-19 should also be taken into account. Continued accumulation in new instances can lead to the reintroduction of containment measures that would release bloodless water into any sustainable economic recovery.
On the financial policy front, Lagarde is expected to speak later in the day, however, there will be too many surprises after the last ECB press conference, assuming Lagarde refrains from speaking about the currency threat to economic recovery. of the euro. zone. . .
In futures markets, at the time of writing, the Dow Jones rose 15 points, while the DAX dropped 32 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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