EU Opening

Written on 07/24/2023


Key Global Events

Central banks will be busy with monetary policy meetings scheduled for this week. ECB, FED and BoJ. As for Japan, accommodative policy continues in contrast to the two central banks, which may continue to raise the interest rate by 25 basis points.

As of today, the balancing of the Nasdaq 100 comes into effect. 

Elon Musk, over the weekend announced that the famous twitter logo will be replaced with an "X." 

A subdued start for European stock exchanges the first weekly session. Milan's FTSE MIB -0.52%, Paris' CAC -0.36%, Madrid's IBEX -1.16%, London's FTSE -0.24%. Wall Street futures trade above parity as European stock markets open. Dow Jones +0.04 %, S&P500 +0.07% and Nasdaq +0.17%.

Forex & Commodities

Euro and Sterling trade higher prevailing over the greenback. EURUSD trades around 1.1126 (+0.03%). GBPUSD cross gains 0.17% and trades around 1.2876. Among commodities, energy and metals down with oil trading above $76 per barrel (+0.74%). Gold trades just below par, around $1965 an ounce (-0.05%).

Index

Asian stock markets traded mixed after the release of Japan's PMI index, down to 49.4. Tokyo's benchmark Nikkei 225 index closes up at +1.17%. China's Hang Seng index during trading gives up -2.33 %.

Global Macroeconomic Data

EUR - Euro zone manufacturing index will be released at 10 a.m. PMI index expected to rise slightly to 43.5. 
UK - At 10:30 a.m. the UK PMI index will be released. The manufacturing index is expected to fall to 53.
U.S. - At 3:45 p.m. will be released the tertiary purchasing managers index expected to decline to 54.