In This Article:
Economic Calendar:
Monday, 29th June
Spanish HICP (YoY) (Jun) Prelim
German CPI (MoM) (Jun) Prelim
Tuesday, 30th June
French Consumer Spending (MoM) (May)
Spanish GDP (QoQ) (Q1) Final
Italian CPI (MoM) (Jun) Prelim
Eurozone CPI (YoY) (Jun) Prelim
Wednesday, 1st July
German Retail Sales (MoM) (May)
Spanish Manufacturing PMI (Jun)
Italian Manufacturing PMI (Jun)
French Manufacturing PMI (Jun) Final
German Manufacturing PMI (Jun) Final
German Unemployment Change (Jun)
German Unemployment Rate (Jun)
Eurozone Manufacturing PMI (Jun) Final
Thursday, 2nd July
Eurozone Unemployment Rate (May)
Friday, 3rd July
Spanish Services PMI (Jun)
Italian Services PMI (Jun)
French Services PMI (Jun) Final
German Services PMI (Jun) Final
Eurozone Markit Composite PMI (Jun) Final
Eurozone Services PMI (Jun) Final
The Majors
It was a relatively bearish end to the week for the European majors on Friday, as the majors partially reversed Thursday’s gains.
The DAX30 fell by 0.73%, while the CAC40 and EuroStoxx600 ended the day with relatively minor losses of 0.18% and 0.39% respectively.
Economic data from the U.S took a back seat at the end of the week as the market focus returned to the coronavirus.
Reports of U.S states pausing reopening measures amidst rising new coronavirus cases weighed on risk sentiment on the day.
The Stats
It was a particularly quiet day on the Eurozone economic calendar on Friday. There were no material stats to provide the European majors with direction at the end of the week.
From the U.S
It was a busy day on the economic calendar. Key stats included the FED’s preferred inflation figures and personal spending numbers for May. Finalized consumer sentiment figures for June were also in focus.
Ultimately, however, the numbers had a limited impact on the European majors on the day.
The Market Movers
For the DAX: It was a bearish day for the auto sector, reversing Thursday’s recovery. BMW and Daimler led the way down, sliding by 3.38% and 3.68% respectively. Continental and Volkswagen saw more modest losses of 2.57% and 1.16% respectively.
It was a particularly bearish day for the banks, with Deutsche Bank and Commerzbank sliding by 5.53% and by 4.26% respectively.
WIRECARD AG tumbled by 53.22% following a 74.9% slump from the previous day.
From the CAC, the banks fell back into the red on Friday. Credit Agricole led the way down, sliding by 2.34%. BNP Paribas and Soc Gen declined by 1.96% and 1.84% respectively.
The French auto sector also saw red, with Peugeot and Renault ending the day with losses of 2.53% and 1.99% respectively.