Forexlive European FX news wrap 16 July – German ZEW declines for the first time this year

0
(0)

It was an
uneventful European session with no central bank speaker and just the German
ZEW survey as the main highlight. The survey recorded the first decline in 2024
due to a bigger than expected fall in German exports in May, the political
uncertainty in France and the lack of clarity regarding the future monetary
policy by the ECB.

The index
has been climbing steadily, so a minor pullback isn’t something to be concerned
about. The situation indicator for the Eurozone, on the other hand, changed
only marginally climbing 2.5 points to a new reading of minus 36.1 points.

In the
markets, the major currencies are little changed with the US Dollar flat on the
day. Treasury yields erased yesterday’s gains. The S&P 500 and the Nasdaq
are mostly flat while the Russell 2000 continues to outperform.

Gold is
having another good day as it’s up 0.80% while crude oil is going for the third
consecutive negative day being down 1.40%. Bitcoin was down almost 4.0% at some
point but has recovered half the losses and it looks like it has further legs
to the upside.

The focus
will now switch to the Canadian CPI and US Retail Sales data both due in an hour.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Go to Forexlive

Wie hilfreich war dieser Beitrag?

Klicke auf die Sterne um zu bewerten!

Durchschnittliche Bewertung 0 / 5. Anzahl Bewertungen: 0

Bisher keine Bewertungen! Sei der Erste, der diesen Beitrag bewertet.

Es tut uns leid, dass der Beitrag für dich nicht hilfreich war!

Lasse uns diesen Beitrag verbessern!

Wie können wir diesen Beitrag verbessern?