With yesterday seeing a flat trading day in Europe, what is today likely to bring as the Federal Reserve interest rate looms large and Asian stocks closed mixed for the day?
Early on we’ve seen German consumer confidence data released. Business confidence earlier in the week came in at it’s lowest in 5 years but had little impact on the DAX and European markets. Consumer confidence came in slightly higher than expected, so we may see a slight edge upwards, but nothing to write home about.
French and Italian consumer confidence is up next, with French data coming out roughly an hour before the Italian numbers. Italy will also release business confidence numbers today, which will likely see some movement in the FTSEMIB.
In Ireland, we’ll see key residential property data released, with prices MoM and YoY to be released in the afternoon. Analysts expect the YoY prices to have increased roughly 6.2%, slightly slower than the previous 6.2% reported in 2014.
Lastly, we’ll see French unemployment data with the jobs numbers always having the potential to move the CAC. Analysts expect an increase in joblessness by 7k. Keep your eyes on the numbers as any unexpected increase has the potential to move French markets to the downside.
