In This Article:
Economic Calendar:
Thursday, 12th September
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German CPI m/m (Aug) Final
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French CPI m/m (Aug) Final
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French HICP m/m (Aug) Final
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Eurozone Industrial Production m/m (Jul)
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Deposit Facility Rate (Sep)
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ECB Interest Rate Decision (Sep)
Friday, 13th September
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Spanish CPI y/y (Aug) Final
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Spanish HICP y/y (Aug) Final
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Wages in eurozone y/y (Q2)
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Eurozone Trade Balance (Jul)
The Majors
It was back in the green for the CAC40 and EuroStoxx600 on Tuesday, with the pair rising by 0.08% and 0.10% respectively.
The DAX30 continued to lead the way, however, with a 5th consecutive day in the green. On the day, the DAX30 rose by 0.35%, after having recovered from losses in the early part of the session.
There were no material stats out of Germany to rock the boat on the day, while stats at of France and Italy pinned back the CAC40 and EuroStoxx600. The pair found late support to close out the day in positive territory.
On the geopolitical front, Brexit woes weighed on the majors in the early part of the day, as the British PM continued to state his unwillingness to request for an extension if no agreement was in place by 19th October.
Also pinning back the majors on the day was continued uncertainty over the ECB’s monetary policy decision tomorrow afternoon.
The Stats
It was a relatively quiet day on the Eurozone economic calendar on Tuesday. French 2nd quarter nonfarm payroll and July industrial production figures out of France and Italy provide direction in the early part of the day.
The stats were skewed to the negative.
In France, nonfarm payrolls rose by just 0.2% in the 2nd quarter, following a 0.4% rise in the 1st quarter, according to figures released by INSEE.
July industrial production figures also failed to impress.
According to INSEE, French industrial production rose by just 0.3% in July, month-on-month, following a 2.3% slide in June. Economists had forecasted a 0.5% increase.
Italian industrial production slid by 0.7% in July, month-on-month, following on from a 0.3% fall in June. Economists had forecast a 0.1% fall. The figures were released by Istat.
From the U.S, JOLTs job openings had a muted impact on the majors in spite of a fall from 7.248m to 7.217m in July. While there was a minor fall in openings, hires and quit rates saw minor increases reflective of positive labor market conditions.
The Market Movers
From the DAX, ThyssenKrupp led the way once more, rallying by 3.41%, with Deutsche Lufthansa gaining 3.41% off the back of the BA pilot strike. Reports of rising airfares across the European major airlines in response to the grounding of BA flights support airline stocks on the day.