Shares markets opened mixed in Europe on Monday, holding gains ahead of further macro developments this week.
Market sentiment fluctuated this morning, as losses in Germany due to the sharp price action in Bayer, were offset by gains in Paris and Madrid.
Even if equities started the week without direction, risk appetite remains high from investors as the dovish narrative started two weeks ago remains in place.
Traders and investors are now focused on the release of the FOMC and ECB minutes of their last meetings, while speeches from many central bank officials, including ECB President Christine Lagarde and BoE Governor Andrew Bailey, also loom this week.
Elsewhere, geopolitical tensions remain an uncertainty driver for equity traders, especially after a vessel was seized by Houthi rebels in the Red Sea.
This raised concerns of an energy supply disruption, which drove the sharp price action in the energy sector this morning.
On the technical front, the STOXX-50 index still trades above the 4,330.0pts level despite an ongoing bearish divergence between prices and the RSI indicator, highlighting a rally slowdown. The break-out of the newly established support level could open the doors to a correction towards 4,300.0pts and even deeper.
Pierre Veyret – Technical analyst, ActivTrades
Market sentiment fluctuated this morning, as losses in Germany due to the sharp price action in Bayer, were offset by gains in Paris and Madrid.
Even if equities started the week without direction, risk appetite remains high from investors as the dovish narrative started two weeks ago remains in place.
Traders and investors are now focused on the release of the FOMC and ECB minutes of their last meetings, while speeches from many central bank officials, including ECB President Christine Lagarde and BoE Governor Andrew Bailey, also loom this week.
Elsewhere, geopolitical tensions remain an uncertainty driver for equity traders, especially after a vessel was seized by Houthi rebels in the Red Sea.
This raised concerns of an energy supply disruption, which drove the sharp price action in the energy sector this morning.
On the technical front, the STOXX-50 index still trades above the 4,330.0pts level despite an ongoing bearish divergence between prices and the RSI indicator, highlighting a rally slowdown. The break-out of the newly established support level could open the doors to a correction towards 4,300.0pts and even deeper.
Pierre Veyret – Technical analyst, ActivTrades
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