Reply To: Traders Market Weekly: Avoid Whiplash, Fasten Your Seatbelts

#74077
Truman
Participant

Major European indices are mostly lower.

STOXX Europe 600: UNCH,
Germany’s DAX: -0.4%,
U.K.’s FTSE 100: +0.6%,
France’s CAC 40: UNCH,
Italy’s FTSE MIB: -0.3%,
Spain’s IBEX 35: -1.3%.

Data reported this morning showed above-consensus Q1 GDP from Germany, France, Italy, and Spain, which is weighing on rate cut expectations.

Mercedes and Volkswagen missed Q1 profit expectations, but both reaffirmed their outlooks for the year, while Lufthansa said that summer travel demand will be strong.

Markets in the region will be closed for Labor Day tomorrow.

Eurozone
Q1 GDP 0.3% qtr/qtr (expected 0.1%; last -0.1%); 0.4% yr/yr (expected 0.2%; last 0.1%).
April CPI 0.6% m/m (last 0.8%); 2.4% yr/yr, as expected (last 2.4%).
April Core CPI 0.7% m/m (last 1.1%); 2.7% yr/yr (expected 2.6%; last 2.9%)

Germany
March Retail Sales 1.8% m/m (expected 1.3%; last -1.9%); 0.3% yr/yr (last -2.7%).
March Import Price Index 0.4% m/m (expected 0.1%; last -0.2%); -3.6% yr/yr (expected -3.8%; last -4.9%).
April Unemployment Change 10,000 (expected 7,000; last 6,000)
April Unemployment Rate 5.9%, as expected (last 5.9%). Q1 GDP 0.2% qtr/qtr (expected 0.1%; last -0.5%); -0.2% yr/yr, as expected (last -0.2%)

U.K
March BoE Consumer Credit GBP1.577 bln (last GBP1.429 bln).
March Mortgage Approvals 61,330 (expected 61,000; last 60,500)

France
Q1 GDP 0.2% qtr/qtr (expected 0.1%; last 0.1%); 1.1% yr/yr (expected 0.9%; last 0.8%).
March Consumer Spending 0.4% m/m (expected 0.2%; last 0.1%).
April CPI 0.5% m/m, as expected (last 0.2%); 2.2% yr/yr (expected 2.1%; last 2.3%).
March PPI -0.2% m/m (last -1.7%); -7.5% yr/yr (last -5.5%)

Italy
Q1 GDP 0.3% qtr/qtr (expected 0.1%; last 0.1%); 0.6% yr/yr (expected 0.4%; last 0.7%).
April CPI 0.2% m/m (expected 0.3%; last 0.0%); 0.9% yr/yr (expected 1.0%; last 1.2%)

Spain
Q1 GDP 0.7% qtr/qtr (expected 0.4%; last 0.7%); 2.4% yr/yr (expected 1.9%; last 2.1%).
February Current Account surplus EUR1.90 bln (last surplus of EUR5.13 bln)

Swiss
April KOF Leading Indicators 101.8 (expected 102.1; last 100.4)