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Focus on economic data and COVID-19 updates

The majors

It was a mixed day for the European majors on Monday.

The CAC40 and DAX30 fell 0.06% and 0.10%, respectively, while the EuroStoxx600 closed the day 0.15%.

Economic data from Germany and the US didn’t impress the majors of the day, however.

However, concerns about the further spread of the Delta variant weighed on the majors, who were fighting for a direction.

The statistics

Economic data was back on the lighter side on Monday, with trade data from Germany in focus.

Germany’s trade surplus expanded from EUR 12.3 billion to EUR 16.3 billion in June. Economists had forecast an increase to 16.8 billion euros.

According to Destatis

  • Exports rose by 1.3% on the previous month to € 118.7 billion.
    • Germany exported goods worth 64.5 billion euros to EU member states. Exports increased by 26.1% compared to June 2020.
    • With non-EU countries, goods exports increased by 20.7% compared to June 2020 to 54.1 billion euros.
  • Imports rose compared to the previous month by 0.6% to € 102.4 billion.
    • Germany imported goods worth 54.9 billion euros from EU member states.
    • Compared to June 2020, imports from EU member states increased by 22.1%.
    • Imports from non-EU countries increased by 33.0% compared with June 2020 to € 47.5 billion.

From the USA

It was a quiet day on the economic calendar after Friday’s impressive non-farm payrolls.

JOLT’s job offers for June were the focus of attention towards the end of the European meeting.

The openings jumped from 9.483 m to 10.073 m, well before a forecast decline to 9.00 m.

The market movers

For the DAX: It was a bearish day for the auto sector on Monday. Daimler slipped 1.62% to lead the way down with Volkswagen 0.63% falling. BMW and Continental ended the day with slight losses of 0.21% and 0.16% respectively.

However, it was a bullish day for banks. Deutsche Bank rose 1.16%, with Commerzbank 2.54% increase.

From the CAC, it was a relatively bullish day for banks. BNP Paribas increased by 0.39%, with Credit Agricole and Soc Gen increase by 0.05% and 0.20% respectively.

It’s a mixed day for the French auto industry. Stellantis NV increased by 0.68% while Renault slipped by 2.01%.

Air France-KLM slipped 0.64%, with Airbus SE ended the day down 1.83%.

On the VIX index

On Monday the VIX went green again and ended a run of 4 consecutive days in the red.

After partially reversing a 6.54% decline on Friday, the VIX rose 3.53% to end the day at 16.72.

The NASDAQ rose 0.16% while the Dow and S & P500 ended the day 0.30% and 0.09% respectively.

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