European markets predict a weaker start in a security flight as covid cases multiply, closures become tighter, and investors are preparing for what is expected to be a volatile week with us elections. .
Coronavirus cases remain out of control, so much so that the UK joins France and Germany in pronouncing the national blockade 2. 0.
The FTSE lags significantly behind its European peers after Boris Johnson’s dramatic U-turn ordered another national blockade starting Thursday. Retailers will be in the midst of consideration and how they deserve to face a Christmas crisis after the government has ordered everyone to close. Non-essential stores. Stricter travel restrictions will also mean that travel agencies will be under pressure again as the Covid industry returns.
Ryanair showed the disastrous outlook for the sector by saying that it now plans to fly at just 25-40% of its forward-looking capacity during the winter months, referring to the progression of the covid. The outlook comes when the cheap airline reported a loss of 197 million euros in the first half, compared with a profit of 1. 1 billion euros at the same time last year. Pandemic. Ryanair was unable to supply third class year-round until the end of March, only to say that it expected an accumulation of losses.
China’s positive knowledge provides at least some of the market sentiment prior to the production of PMI knowledge in Europe and the United States.
China’s production sector is developing for the sixth consecutive month as the consequences of the pandemic decrease, while in Europe it is worsening. 2011 and confirms that China’s economy is well on its way to an economic recovery. The hope is that strengthening China’s economy will save Europe from inevitable economic suffering as nations return to blockade 2. 0.
Knowledge of the manufacturing PMI will focus on Europe and the UNITED Kingdom. The production sector has been much more resistant to the impact of the pandemic than the services sector. Recent maximum readings of the flash production PMI for euro and UK dominance showed a strong expansion of the sector despite the increase in covid cases. This, of course, is now the maximum it will likely replace, as lock restrictions have been re-imposed.
The GBP/USD pair fell below 1,2900, extending losses before the London open. The moment the UK’s national blockade cancels the positive news of an elegant Brexit. Tuesday’s election is also weighing on the ground.
The EUR/USD falls to its lowest level since September 28 below 1,1650, extending last week’s fall. Markets offer euros as yield spreads widen in favor of the US dollar. U. S. electoral uncertainty can be a major source of safe haven assets.
Gold is still at stake, keeping Friday’s recovery moves below $1,900. Yellow steel represents a graphical trend of bullish head and shoulders inverted in time formation. September minimums can entertain bears in the short term before highlighting the early July high.
The resumption of production is expected to continue, however, a decline in new business can lead to a slowdown in expansion in the coming months. The new order index is expected to fall to 45. 9 from 60. 2. Foreign exchange markets have returned to the US dollar. security trade.
West Texas Intermediate (WTI) crude oil fell to a minimum of five months on Monday, as orders are about to weaken, and many economies reimpose blocking restrictions to involve the coronavirus wave.
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