European Market

The European Union plans to initiate an inquiry into the subsidies that China offers its electric vehicle manufacturers.

On Sunday, at the IAAA Mobility auto show in Munich, Mercedes-Benz introduced a new electric-sedan concept vehicle. Branded as CLA Class, the concept vehicle has a range of more than 466 miles, based on global industry standards. This is competitive and is superior to Tesla’s Model 3 long range version, which has a range of 391 miles on the same measure.

GER30 top-down analysis.

The pair hit new 2023 lows after poor preliminary PMIs from Europe, but the subsequent UK prints sent it higher, as markets contemplate their impact on monetary policy outlook

The Italian luxury sports car maker is having a great year and its stock (RACE.it) hit record highs in July, but retreats in the current quarter, despite strong results and guidance

The UK index heads towards a losing week and is in risk of new 2023 lows, as the latest inflation and employment reports keep the central bank on its tightening path

Even though EUSTX50's primary trend is up, the intermediate trend does show signs of slowing.

After the latest round of monetary policy decisions, uncertainty is prevalent, as most central banks have kept all options in play in regards to their next steps

Last week I wrote how the GER30 was setting up to tackle its overhead resistance once again. The 16,300-16,400 levels were hit four times since mid-November 2021 and each time price was repelled. However, this time there are signs that the bulls may overpower the key level.

The German Index hit fresh all-time highs after the European Central Bank hiked rates on Thursday, as Ms Lagarde opened the door to a pause, in a dovish press conference

The GER30 is preparing to attack overhead resistance.