French expenditure (MoM) (May)
French CPI a/a (June) Prelim.
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Change in German unemployment (June)
German unemployment (June)
Italian CPI (MoM) (June) Prelim.
Euro CPI (year-on-year) (June) Preliminary.
Euro core CPI (year-on-year) (June) Preliminary.
Euro CPI (MoM) (June) Preliminary.
Spanish production PMI (June)
Italian production PMI (June)
French production PMI (June) Final
German production PMI (June) Final
Euro Zone Manufacturing PMI (June) Final
Euro unemployment rate (May)
Retail trade in Germany (Monthly) (May)
It was a day of ups and out for europe’s majors on Tuesday.
The DAX30 led the way with 0. 88%, with the CAC40 and EuroStoxx600 posting gains of 0. 14% and 0. 31% respectively.
The recovery in customer confidence and economic sentiment in the euro area provided support, with a decline in inflation figures in Germany also for the market.
In the US, a strong recovery in customer confidence added to the biggest ones at the end of the day.
However, concerns about the Delta variant of the coronavirus continued to restrict the increase.
Inflation and economic sentiment figures were up to date.
According to initial figures, German customer costs rose by 0. 4% in June, in line with forecasts, while in May customer costs increased by 0. 5%.
As a result, Germany’s annual inflation rose from 2. 5% to 2. 3%.
For the euro area, confidence rose from -5. 1 to -3. 3 in June, in line with initial figures.
Sentiment towards the economy is also increasing. The euro’s dominance economic sentiment indicator rose from 114. 5 to 117. 9, while economists expected an increase to 116. 5
Consumer confidence is also at the centre of attention. In June, CB’s customer confidence index rose from 120. 0 to 127. 3. Economists expected an increase to 119. 0.
For the DAX: It was a bumpy day for the auto sector on Tuesday. Continental closed the day up 1. 02%, with Volkswagen and Daimler up 0. 68% and 0. 30% respectively. BMW made a gain of 0. 01% on the day.
However, it was a combined day for the banks. Deutsche Bank rose 0. 62%, while Commerzbank closed the day down 0. 44%.
From the CAC, it’s a bumpy day for banks. BNP Paribas rose 0. 70%, with Crédit Agricole and Soc Gen making gains of 1. 53% and 1. 27% respectively.
However, it was a combined day for the French automotive sector. Stelantis NV fell 0. 01%, while Renault closed the day up 1. 12%.
Air France-KLM and Airbus SE posted losses of 0. 43% and 0. 58%, respectively.
It’s a second straight day in green for the VIX on Tuesday.
After a gain of 0. 90% on Monday, the VIX rose 1. 65% to end the day at 16. 02.
The NASDAQ rose 0. 19%, the Dow Jones and the S
It’s a busy day on the economic calendar. French customer spending figures and German unemployment are expected, as well as inflation figures for the eurozone.
While customer spending is essential, expect German unemployment and eurozone inflation figures to have a greater effect on big business.
Another marked recovery from inflationary pressures may simply call for the ECB’s willingness to remain firm in its policy.
Germany’s unemployment figures will also be decisive, as higher unemployment would affect spending and market optimism about the economic outlook.
In the US, ADP’s non-farm employment figures will also provide direction towards the end of the European session.
Before Europe opens, China’s sectoral SMIs will set the tone.
In futures markets, at the time of writing, the Dow Mini was up 33 points.
For a review of all of today’s economic events, check out our economic calendar.