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European Markets Are Flat After A Volatile Week

ByAvaTrade
AuthorAvaTrade
Published 11/10/2014, 04:00 AM
Updated 02/02/2022, 05:40 AM

European markets are set to open flat after a colourful week which ended with the most important data – the U.S. NFP data. Although you can read many signals from last Friday’s US payroll data, but the headline number has paused the rally for the dollar index as expected, because it was producing over bought signals at many different levels. Having said that, the fact remain strong that the U.S. has been creating over 200K jobs on average since the start of this year which is a very strong number.

This news has pushed the large caps in the U.S. towards their all time high with S&P 500 pushing the record territory once again. However, same cannot be said for the small caps and their index is still well off from their all time high. European markets are so sharing the same optimism as the Dax index along with other European indices are still not finding any momentum despite the reaffirmation from the president of the ECB that he is the in charge and his colleagues fully support him.

This week we will get important economic data for Europe such the GDP reading for Q3 for Germany, France and Italy and the CPI reading for the euro zone area. Back in the UK, we will also receive the inflation report from the Bank of England and the unemployment and average earning repeat.

Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.

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