The European rally is already heavily endangered. The indices began to show signs of weakness after a few days as a trade chop in a row due to a series of weak data from the US, Europe and China, and last but not least - Brexit. Yesterday, Parliament again rejected May's proposal, albeit with a smaller difference than the first vote in January. The Brexit saga has already started on the wild spiral of chaos, and today, around 21:00 hrs., Another round of voting is expected this time for no-deal Brexit variants. Expectations are that it will also be rejected, which will allow the vote to extend Point 50 on Thursday. The pound will be back in focus today and UK-related shares.
Indicative levels of opening of major European indices:
DAX: 11480 -34 points
FTSE: 7135 -20 points
CAC: 5251 -13 points
We expect today a negative sentiment for a less open Europe. Bears will hurry to resist any rally attempt, with peak sales being recommended. Trade in the United States ended yesterday mixed after Boeing's shares led to a fall, and in Asia the stock reported a negative session because of the uncertainty surrounding the trade talks and the results of the Brexit vote. Today the impact on the European but rather on the US session will be US long-term commodity data, which is expected to fall below the previous: -0.5% expected versus 1.2% previous. Focus will also be PPI - 0.2% expected vs. -0.1% previous.
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