Ibex 35 today, DAX 40, Eurostoxx 50 and SP 500 futures today: Technical analysis and news. Sales increase in Europe

macro data

  • 12 noon – France – Job seekers. Previous: 2967K.
  • 1:30 p.m. – United States – Remarks by Powell, Chairman of the Fed.
  • 1:30 p.m. – Euro Zone – Appearance of Lagarde, President of the ECB.
  • 2:30 p.m. – US – Durable Goods Orders (Core – Monthly – Aug). Forecast: 0.2%. Previous: 0.2%.
  • 2:30 p.m. – US – Durable Goods Orders (Monthly – Aug). Forecast: -0.4%. Previous: -0.1%.
  • 3:00 p.m. – United States – S&P/Case-Shiller 20 Unadjusted house prices (annual) – July forecast: 17%. Previous: 18.6%.
  • 3:00 p.m. – Euro Zone – Statements by De Guindos, Vice-President of the ECB.
  • 3:35 p.m. – United Kingdom – Speech by Pill, member of the BoE MPC.
  • 3:55 p.m. – United States – Statement by FOMC member Bullard.
  • 4:00 p.m. – United States – Conference Board Consumer Confidence (September). Forecast: 104.5. Previous: 103.2.
  • 4:00 p.m. – United States – New Home Sales (August). Forecast: 500K. Previous: 511K.
  • 10:30 p.m. – United States – API weekly crude stocks. Previous: 1,035M.

Know all the macro information through the economic calendar.

European indices rallied today Tuesday after the STOXX 600 hit its lowest level since December 2020 in the past two days, the DAX 40 a low for almost two years and the Ibex 35 a low since March of this year.

Investors fear that a faster-than-expected tightening of monetary policy to fight inflation, along with an escalation of the war in Ukraine and rising energy prices, could push Europe into a recession .

A recent report from the OECD showed a downward revision to its forecast for global economic growth to 2.2% in 2023 from an earlier projection of 2.8%.citing aggressive monetary tightening in advanced economies and the protracted war between Russia and Ukraine.

US futures are also rebounding today after a five-day losing streak. The S&P 500 left a floor with two hits at 3646 pointsif it breaks above the high between the lows, that would confirm what could be the start of a short-term bounce.

The magnitude of the market and indicators like the RSI show that the oversold is already significant and therefore a countertrend bounce may soon be confirmed.

Federal Reserve officials yesterday distanced themselves from rising volatility in global markets, saying their priority remains controlling domestic inflation.

The English FTSE 100 also rebounded. The Bank of England said on Monday it would not hesitate to change interest rates and is watching markets “very closely” after the pound plunged to an all-time low and UK bond prices rose. plunged in response to the new government’s financial plans.

The British Pound is recovering ground today to trade at $1.081, after falling to $1.0350 yesterday. However, the pound sterling could remain under strong pressure in the medium term. Many analysts say it could reach parity with the dollar or even fall below the dollar, although in the short term a rebound due to oversold is not excluded.

In Asia, the Japanese Nikkei 225 index ended the session with a gain of 0.53%, while the Topix index gained 0.5%falling from more than two-month lows as markets stabilize after a strong sell-off, while rising interest rates and mounting fears remain in investors’ minds.

The People’s Bank of China today stepped up the injection of liquidity towards the end of the quarter by making the largest daily supply since February 25.

The central bank said in a statement that it injected a total of 175 billion yuan ($24.46 billion) through open market operations, including 113 billion yuan through reverse repos. at 7 days, a rate of 2% and an additional 62 billion yuan through the term. 14 days at the rate of 2.15%.

The measure aims to keep the level of liquidity stable at the end of the quarter.

With all eyes on the US dollar, which has acted as a safe haven, investors are now seeing respite in the currency market.

The dollar index falls below 113.50 pointsfalling back from a fresh 20-year high of 114.5 hit in yesterday’s session.

Investors take some profits and pause after the strong rally.

Still, the dollar remains near all-time highs against its major peers on expectations that the Federal Reserve will tighten monetary policy further to stifle rising inflation.

Yesterday, a host of Fed officials signaled their commitment to fighting inflation, even at the risk of economic hardship and heightened market volatility.

The price of gold rises to $1,637 an ounce todayrecovering slightly from a recent low as the dollar’s recovery takes a break.

Gold remains near two-year lows.

Oil prices rise sharply today supported by the breath of the dollar, after falling to nine-month lows as the dollar rallied externally and crude demand expectations were lowered by fears of a global economic meltdown. There are also signs that OPEC+ is trying to avoid a price crash.

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