EUROPEAN SHARES
Stocks made a volatile opening in Europe on Tuesday but without clear direction, as investors brace for another batch of key macro developments this week.
The STOXX-50 edged down in the first minutes of today’s trading session, led lower by basic materials and energy shares before bouncing back over its immediate support around 4,245 pts as health care, financials, and utility stocks saved the day so far.
Investors are bracing for another busy week on the macro front, starting today with the German ZEW survey expectation as well as the UK jobless claims and unemployment, while the ECB will decide on interest rates on Thursday.
Meanwhile, traders will also keep an eye on the other side of the Atlantic, as key US inflation data also looms this week and is likely to shape expectations towards the next FOMC meeting next week.
With that in mind, we expect markets to remain volatile as traders assess the coming batch of economic data and their impact on both growth and monetary policies.
Pierre Veyret– Technical analyst, ActivTrades
Source: ActivTrader
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