Daily market commentary: Banking and Industrial shares are leading decline in Europe


Daily Market News

ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for August 13, 2019. See details below:


EUROPEAN SHARES

European markets opened lower alongside US futures on Tuesday, following a rout triggered in Asia as the Hong-Kong protests deepen and add to concerns over trade tensions and slower growth. The technical as well as the macroeconomic landscape is making it a very difficult trading environment to deal with for traders during the traditionally low-volume month of August.

Concerns investors have over the US-China trade dispute are now underlined by growing signs of its negative impact globally, as demonstrated by slower growth. In this uncertain environment, traders are likely to move their focus back to economic data in order to get rid of the “noise” surrounding markets and to base their trading decision on facts.

While today’s US CPI release will be closely watched by investors as well as the Federal Reserve, traders will also keep an eye on this week’s Euro-zone GDP figures and Industrial Production from both the U.S. and China.

For now, Banking and Industrial shares are leading decline in Europe as the Stoxx-50 index got back slightly over 3,300.0pts this morning. The DAX-30 index found support over 11,615.0pts, a technical zone which emerged as a support during the last market decline, while traders await the ZEW economic sentiment due later in the morning.

DAX-30 index chart

Pierre Veyret– Technical analyst, ActivTrades

Related News

arrow

Daily market commentary: Banking and Industrial shares are leading decline in Europe

0

Send this to a friend