European stock markets continue to grow gradually, but investors are closely watching statistics from China and the United States. At the moment, German DAX30 is near the previous high levels of 9780. After fixation above 9500, the index is consolidating near the level of 9700. Further movement of the index will depend on the data on the unemployment rate in Germany (Thursday) and in the euro area as a whole (Friday). Moreover we should pay attention to data on consumer inflation which will be released on Friday.
The economy of the Eurozone is still relatively weak, but southern countries that are experiencing the greatest recession, began to show signs of growth in the previous year. At the same time, investors are expecting steps to stimulate the economy of the Eurozone by the ECB.
Further growth of euro is quite limited. In the long term, we expect the devaluation of the euro against the U.S. dollar
Wish you the profits!
FXFINPRO Capital Analytical department.