European traders awake to the red light of their screens

Despite the positive development of the last hours by the US trading session, negative sentiment managed to make their way to Asian assets, which again fell victim to lose. Without significant surprises, this sentiment is also brought to Europe, as traders will wake up from the red lights on their charts.

The uncertainty surrounding Brexit weighs not only on the UK but on the whole of the EU, as a feature of free trade in the region, which may affect many companies that are important to the economy of the bloc. There has been speculation about new resignations, a new referendum and a hard Brexit, but the truth is that none of this will be certain until the time for the clinical meeting between the two parties in the December talks. For now, the only thing investors can do is to trade cautiously, and that means at best consolidation for the assets of the Old Continent.

Indicative opening prices of European stock indices:
UKX: 7,058, -32 points
DAX: 11,410, -40 points
CAC: 5,055 -19 points

Today, the economic calendar provides a statement not to anyone else, but to the President of the European Central Bank (ECB), Mario Draghi. The speech will be held at the European Banking Congress in Frankfurt at 10:30 am. The program does not describe in detail what it will speak, but the congress itself bears the theme "Back to normal - what does that mean?" which covers topics such as: Switching to tomorrow's business models: refinement or interruption ?; Technologies in finance; Macroeconomic implications of the return to "normal" monetary policy. Given this, expect Draghi to affect monetary policy at least a little. But I would not expect him to deviate from the ECB's latest comments on this issue, as they are thinking of starting to quit QE next month.

Picture: pixabay.com

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