Photo by Ank Kumar (https://creativecommons.org/licenses/by-sa/4.0/)
The European stock markets have opened on a positive note today, as reflected in the early gains across major indices. The DAX index in Germany has started the session at 18,548.55, registering a rise of 53.17 points, or 0.29%. Meanwhile, the UK’s FTSE 100 is up by 21.67 points to 8,309.67, showing a 0.26% increase.
In France, the CAC 40 is leading the charge among these indices, gaining 30.75 points to reach 7,554.86, a solid 0.41% jump. The Euro Stoxx 50, a broader measure of the Eurozone’s largest companies, is also in positive territory, up by 15.25 points to 4,900.25, marking a 0.31% increase.
These early moves suggest a cautiously optimistic sentiment among investors, possibly buoyed by positive economic data or earnings reports. The overall upward momentum indicates a favorable start to the trading day across the European markets. Investors will be closely watching for further developments throughout the session to gauge whether this early strength can be sustained.
In the previous trading session, U.S. markets ended on a downbeat note, with all major indices closing in the red. The Dow Jones Industrial Average fell by 177.71 points, a decline of 0.43%, ending the day at 40,712.78. This drop reflects a continued caution among investors, possibly in response to economic data or market conditions that have sparked concerns.
The S&P 500 saw a more significant decline, dropping by 50.21 points to close at 5,570.64, which represents a 0.89% decrease. This broad-based index’s performance indicates a widespread retreat across multiple sectors, possibly signaling broader economic or corporate challenges.
The tech-heavy Nasdaq suffered the most substantial loss among the major indices, plunging 299.64 points, or 1.67%, to finish at 17,619.35.
In Japan the Nikkei 225 closed at 38,364.27 up 153.26 points with and advance of 0.40%.
EUR/USD is trading at 1.1113, up by a marginal +0.01% or +0.0001 points. The pair shows relatively stable movement, with the daily range between 1.11108 and 1.1132. GBP/USD has gained +0.18% against the U.S. Dollar, trading at 1.3112. The daily range has been between 1.3083 and 1.3146, indicating a bullish trend for the Pound,driven by positive economic news or sentiment from the UK.
USD/JPY is down -0.27%, trading at 145.88, retracing yesterday gains and resuming the downtrend linked to BoJ monetary policy stance.
WTI Crude is trading higher by +0.16%, at 73.13 while Gold is seeing a solid increase of +0.45%, trading at 2,527.90 $/oz.
Bitcoin has risen sharply by +0.71%, currently priced at 6,1036.00 .
Here’s a summary of the key events on the economic calendar for Friday, August 23 (times in GMT) :
00:00 USD: Jackson Hole Symposium (All Day)
This event is a major gathering of central bankers, policymakers, and economists where discussions often impact global markets.
12:30 CAD: Retail Sales (MoM) (June)
This data will show the monthly change in Canadian retail sales, with the previous month showing a decrease of -0.8%.
12:30 CAD: Retail Sales ex Autos (MoM) (June)
This report excludes automobile sales and will provide a clearer picture of Canadian consumer spending, with a previous decline of -1.3%.
14:00 USD: Fed’s Chair Powell speech
Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium in Wyoming is highly anticipated and could provide guidance on the U.S. Federal Reserve’s future monetary policy direction.
14:00 USD: New Home Sales Change (MoM) (July)
This report reflects the change in new home sales in the U.S. for July, with the previous data showing a decrease of -0.6%.
19:00 GBP: BoE’s Governor Bailey speech
Bank of England Governor Andrew Bailey’s speech at the Jackson Hole Economic Policy Symposium in Wyoming, US.
