Another day, another decrease for global indices. After more than the volatile session in the US, Asian traders hurried to sell out the indexes of the region, and these negative attitudes are now being transferred to Europe, where major stock indices will open with declines.
Indicative opening levels for Europe:
DAX: 10,828 -75 points
UKX: 6,811 -33 points
CAC: 4,855 -33 points
During a European session, traders will watch for production PMI data in Germany. The fourth largest economy in the world is highly oriented towards production and export, so that this news will give a good signal that global growth is slowing. The decline in Asia has been a product of weak economic relives with a similar theme, so here the short-term index trend will be determined precisely by these news.
We expect the inflation data at 15:30 during the US session. The next week begins the FOMC 2-day meeting, and the news today will show how much the US central bankers are going to continue on tightening monetary policy.
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