|Day's range||4,701.52 - 4,782.71|
|52-week range||3,632.06 - 6,111.41|
Europe stocks rally on hopes that the European Union will unveil large stimulus package to reduce the economic fallout from the coronavirus pandemic.
Mid-week market drivers with Dukascopy TV. We’ve got COVID-19 news and numbers, U.S – China tension, and optimism towards the economic.
Euro Zone stocks were supported as the European Commission (EC) prepares to unveil a plan to help the EU economy recover.
Economic data from the Eurozone to take a back seat as hopes of an economic rebound point to a jump at the European open.
Market jitters over China resurface following a 3rd consecutive day in the green for the DAX30… The ECB and Brussels will need to distract with positive news.
The futures point northwards, with optimism continuing to deliver support. Chatter from Beijing and Washington and economic data will be in focus, however.
Geopolitics will be a key driver in the week. Brexit and the Pound and a collapse in the U.S – China relations will be a test riskier assets.
The decision drew a warning from President Donald Trump that Washington would react "very strongly" against the attempt to gain more control over the former British colony. The U.S. Senate published a bill with bipartisan support that would sanction Chinese officials who implement the law.
The futures point to the red ahead of a busy day on the economic calendar. Expect geopolitics to also play a hand later in the day.
The DAX sees red ahead of the open, with negative news on COVID-19 vaccine Moderna and doom and gloom sentiment towards the economic recovery weighing.
The European majors will need another catalyst after Monday’s rally. An EU Stimulus package would be a step in the right direction.
A much-debated ban on bets against stocks and bonds across markets in Europe is set to end on Monday night after regulators declared the measures a success in curbing “irrational overreactions”. The national watchdogs in France, Italy, Spain, Austria, Greece and Belgium said they would let the restrictions expire at just before midnight on Monday. The restrictions had applied to investors creating net short positions — which could include a mixture of shares, bonds and derivatives — or those increasing their existing net short positions.
The futures point northwards as the continued easing of lockdown measures and fall in new COVID-19 cases improves sentiment.
The futures are pointing northwards early in the day. German GDP numbers and economic data from the U.S could weigh, however.
The tough times are likely to continue for a while longer adding to the risk aversion. Yellen and Draghi may be feeling relieved to have missed out on this one…
It’s another quiet day on the economic data front that will leave the majors exposed to the U.S jobless claims figures. Another surge will weigh…