In This Article:
Economic Calendar:
Tuesday, 14th July
German CPI (MoM) (Jun) Final
Spanish CPI (YoY) (Jun) Final
Spanish HICP (YoY) (Jun) Final
German ZEW Current Conditions (Jul)
German ZEW Economic Sentiment (Jul)
Eurozone ZEW Economic Sentiment (Jul)
Eurozone Industrial Production (MoM) (May)
Wednesday, 15th July
Italian CPI (MoM) (Jun) Final
Thursday, 16th July
French CPI (MoM) (Jun) Final
French HICP (MoM) (Jun) Final
Eurozone Trade Balance (May)
Deposit Facility Rate (Jul)
ECB Interest Rate Decision (Jul)
ECB Press Conference
Friday, 17th July
Eurozone Core CPI (YoY) (Jun) Final
Eurozone CPI (MoM) (Jun) Final
Eurozone CPI (YoY) (Jun) Final
The Majors
It was a 2nd consecutive day in the green for the European majors on Monday. The CAC40 rallied by 1.73% to lead the way, with the DAX30 and EuroStoxx600 rising by 1.32% and 1.00% respectively.
While new COVID-19 cases were on the rise, optimism towards a COVID-19 vaccine and treatment drug supported the majors.
German biotech BioNTech and U.S pharma Pfizer announced that the U.S FDA had fast-tracked their experimental vaccines.
The Stats
It was a particularly quiet day on the Eurozone economic calendar. There were no material stats to provide the majors with direction.
From the U.S
It was also a quiet day on the U.S calendar, with no material stats to influence later in the day.
The Market Movers
For the DAX: It was a bearish day for the auto sector on Monday. BMW and Volkswagen fell by 1.55% and by 2.18% to lead the way down. Continental and Daimler saw more modest losses of 0.70% and 0.91% respectively.
It was a particularly bearish day for the banks. Deutsche Bank slid by 3.99%, with Commerzbank falling by 0.46%.
WIRECARD AG returned to the red, with a 5.38% slide.
From the CAC, it was another bullish day for the banks. BNP Paribas rose by 2.88%, with Credit Agricole and Soc Gen seeing gains of 1.06% and 1.78% respectively with
The French auto sector also found further support, with Peugeot and Renault gaining 3.60% and 1.72% respectively.
Air France-KLM and Airbus SE ended the day with gains of 1.84% and 3.67% respectively.
On the VIX Index
It was back into the green for the VIX on Monday. Reversing a 6.73% loss from Friday, the VIX jumped by 17.96% to end the day at 32.19.
Through the U.S session, news of a record-high number of new COVID-19 cases weighed on risk sentiment.
The S&P500 and NASDAQ fell by 0.94% and by 2.13% respectively, while the Dow eked out a 0.04% gain.
The Day Ahead
It’s a busier day ahead on the Eurozone economic calendar. Key stats include Germany and the Eurozone’s ZEW Economic Sentiment figures for July.