GER30 Extends its 2 Year Lows Amidst Hawkish CB-Talk & Recession Fears
The German index extends is losses to new two year lows, as central banks offer hawkish commentary, sustaining market apprehension over an economic downturn
The German index extends is losses to new two year lows, as central banks offer hawkish commentary, sustaining market apprehension over an economic downturn
Germany’s Producer Price Index surged to the highest levels ever in August as today’s data showed, following recent elevated Consumer prices, in the aftermath of the ECBs aggressive rate hike
The German index covers earlier losses but cannot benefit from better than expected GDP figures from Eurozone, as markets brace for Thursday’s interest rate decision by the European Central Bank
Lizz Truss is the 56th British prime minister. She beat rival Rishi Sunak, the former chancellor, pledging to tackle the UK's energy crisis. A £100 billion package is being considered to freeze rising energy bills. She has also pledged to cut taxes.
The current pressure is due to Russia indefinitely cutting off gas supplies via the Nord Stream 1 pipeline. Gazprom has blamed this on a technical issue. However, the primary interpretation sees this as a political statement due to Western counties implementing a price cap on Russian oil - the latest sanction following its invasion of Ukraine.
German ifo points to a weak economy as the short-term chart tests resistance.
There was a flurry of corporate activity and news during the week of August 8-12, with Disney, Dutch retailer Ahold Delhaize, EV start-up Rivian and other companies attracting our attention
The German Index starts the week with cautious optimism, but struggles once again to extend its recovery past important technical levels
The first week of August remained a busy one, as we had a large number of high profile corporations releasing their financial results, such as chip-maker AMD, British energy giant BP, ride-hailing firm Uber and others
The GER30 shows relative bullishness on its weekly chart.
The last week of July was dominated by the Big Tech earnings, but the auto industry, plane makers and retailers were also in the spotlight
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