"A downbeat start for European markets today with equities taking the back foot as traders once again look to the precious metal space for consistent returns. In a week filled with potential volatility, traders have to weigh up the direction of travel once Wednesdays FOMC meeting and mag7 earnings are out the way. While today's economic calendar remains relatively light, the release of German Ifo business climate and US durable goods data provide two areas of note."
"For now, German sentiment appears to be stuck around historically low levels, remaining at 87.6 despite forecasts of a rise to 88.3. Once again, we see the German economy moving forward with little momentum, as businesses struggle against a backdrop of ever changing trade conditions that once again seemed to shift after the EU cancelled their agreement with the US in response to their overtures for Greenland."
"With VW CEO Oliver Blume stating that they will likely cancel their plans for an Audi factory in the US unless there is a reduction in auto tariffs, many businesses are struggling to know whether it is the right thing to invest or standstill in such an unpredictable environment. The US remains the main source of uncertainty and volatility, with the current questions marks centering around the perspective strikes on Iran after the US moved a fleet of warships and accompanying aircraft into the region."
European equities opened lower as investors shifted toward precious metals seeking consistent returns. Market participants face a potentially volatile week ahead of Wednesday’s FOMC meeting and major earnings. Today’s economic calendar is light, but German Ifo business climate and US durable goods releases attract attention. German Ifo sentiment remains near historic lows at 87.6, below forecast levels, reflecting weak momentum and investment hesitancy amid shifting trade conditions. Diplomatic friction over Greenland and threatened auto tariffs have prompted companies such as VW to reconsider U.S. investment. Geopolitical risks in the Middle East and tariff threats on Canada increase energy-market uncertainty.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]