After the negative session and the Asian one, the cloud of uncertainty is also being transferred to Europe, where the futures of major stock indices point to a start in red. The reason for this is the three consecutive days of sell-offs pending authorization or any progress on the US-China trade deal.
Indicative Open Price of the Core Stock Indices:
UKX: 7,155 -14 points
DAX: 11,542 -25 points
CAC: 5,280 +3 points
The currencies look calm now as everyone expects more clarity on Brexit, trade talks and, of course, the ECB meeting today. At 12:00, the data on Gross Domestic Product in the euro area are expected. Since this is a secondary report, it is not expected to cause much response in the markets unless the result is different from the previous estimates. At 15:30, investors will focus on the European Central Bank's decision on the key interest rate in the area. Wide expectations are to keep rates unchanged while preserving the well-known passive tone of the statement. The key thing to follow is the report on the bank's economic forecasts. Growth and inflation declines are expected and, besides, any potential mention of TLTRO. Draghi will make a statement after the decision. As the expectations are for low predictions, the question here is how dovish he will be.
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