European and US Economic Data in Focus as Markets Await Key Releases
The German Dax index continued its upward trend on Friday, reaching a high of around 24,160 points by midday, a 1% increase from the previous trading day. Market analysts expect a flurry of economic data releases from the European Union and the United States to shape market sentiment in the coming days.
“It’s a bridge day and market participants are eagerly awaiting a plethora of price and economic data from the EU and the US” said Andreas Lipkow, a market analyst. “We’ve already seen a small indication of consumer prices in Italy and Spain, which largely met expectations and confirmed the notion of disinflation.”
The market is now waiting for the German inflation data, which could influence the European Central Bank’s (ECB) interest rate decision in June. The ECB is attempting to support the European economy through its interest rate policy.
Meanwhile, market participants in the US are concerned about the ongoing legal disputes surrounding the tariffs issue, which are likely to have a significant impact on the European economic outlook. “As the week comes to a close, market participants will be focusing more intensely on the defense and cyclical sectors, with a few individual stocks also in the spotlight” Lipkow said.
The euro was weaker against the US dollar on Friday afternoon, with one euro equivalent to 1.1333 US dollars and one US dollar worth 0.8824 euros. Stocks that performed poorly included those of Siemens Healthineers, Sartorius, Porsche and Fresenius Medical Care.