Stocks had a choppy open in Europe on Tuesday, but with no clear direction, as investors braced for another set of major macroeconomic developments this week.
The STOXX-50 fell in the first few minutes of today’s session, a decline led by commodity and energy stocks, before recovering to its immediate support at around 4,245 points, with healthcare, financial and utility stocks coming to the rescue today so far.
Investors are gearing up for another busy week on the macro front, starting today with German ZEW survey forecasts as well as UK unemployment data, while the European Central Bank will decide on interest rates on Thursday. However, traders will also be watching the other side of the Atlantic, as key US inflation data is also due this week, and will likely shape expectations for the upcoming FOMC meeting next week.
With this in mind, we expect markets to remain volatile as investors evaluate the next set of economic data and its impact on both growth and monetary policies.
Technical Analyst at ActivTrades
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