Reply To: Traders Market Weekly: Consumers Along for The Ride


Major European indices trade in the green.

STOXX Europe 600: +0.6%,
Germany’s DAX: +1.0%,
France’s CAC 40: +0.8%,
Italy’s FTSE MIB: +1.2%,
Spain’s IBEX 35: +0.7%.

The U.K.’s FTSE is closed for a bank holiday.

The market received final April Services PMI readings from regional economies with Germany, France, Spain, and Italy all reporting expanding activity.

Eurozone’s April Services PMI 53.3 (expected 52.9; last 51.5). May Sentix Investor Confidence -3.6 (expected -4.8; last -5.9). March PPI -0.4% m/m, as expected (last -1.1%); -7.8% yr/yr (last -8.5%)
Germany’s April Services PMI 53.2 (expected 53.3; last 50.1)
France’s April Services PMI 51.3 (expected 50.5; last 48.3)
Italy’s April Services PMI 54.3 (expected 54.7; last 54.6)
Fitch affirmed Italy’s BBB rating with a Stable outlook.
Spain’s April Services PMI 56.2 (expected 56.0; last 56.1). April Unemployment Change -60,500 (expected -74,500; last -33,400)

European Central Bank chief economist Lane said that he has growing confidence about inflation returning to target.
China’s President Xi is visiting the region this week.