Fundamental analysis from New Forex: Europe

Fundamental analysis from New Forex: Europe

Posted on May 16, 2017, 12:26 PM

European stock markets rise amid calls for renewal of the economic architecture of the Eurozone and the strengthening Euro. Officials in Spain have proposed a complete modernization of the control system, implying the introduction of Eurobonds, the anti-crisis budget and a General system of unemployment insurance. In addition, Madrid is advocating the creation of a banking Union. The pan-European Stoxx 600 rose by 0.09% to 395.97. The German Dax ended the session at a record high on 12807.4, an increase of 0.29% in that time, the Italian Mibtel rose by 0.60% to 21704.46.The inflation rate consumer prices of Italy was 0.8% for the month and 2.0% for the year. Greece’s GDP unexpectedly shrank in the first three months of 2017, and the growth rate decreased 0.1% for the quarter. The Euro rose on 0.2% to 1.0994 against the U.S. dollar after gaining on 0.4 percent earlier on Monday. Indicators of corporate data by the German energy group RWE corrected. Annual net income increased from €1 billion to €1.3 bn. Acceleration of growth of consumer prices in the UK obviously as it is expected that April’s growth may be revised in favor of an additional 2.6% on Wednesday.

NewForex Analyst

Alex Vergunov

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