European stocks open higher pending Germany’s market survey
The European stock markets have started the session this Tuesday on the rise. The markets have their expectations set in the publication of the ZEW survey in June in Germany.
The leading European markets started the day with slight increases. Madrid increased by 0.35%; Paris and Milan added 0.15% both, and London advanced by 0.09%.
The Euro Stoxx50, which groups together the main European companies, also expanded by 0.08%.
In the debt market, the interest on the German bond, considered the safest, sank to 0.207%.
EuroStoxx 50 progresses with limited moves
The main stock exchanges in Europe, led by the EuroStoxx 50, seem determined to emphasize the process in which they have been immersed for several weeks. They are waiting to learn more about the state of the global economic recovery from the pandemic and the pressures that it may generate on prices. It would endanger an accommodative monetary policy like the current one. Meanwhile, the most important indicators of the continent are they proceed with hardly any changes that alter their trend.
The selective benchmark in Europe yesterday managed to score rises lower than half a percentage point, allowing it to remain above the old resistance of 4,040 points. Analysts warn it is the support level not to lose to keep moving towards 4,300 points. There would be correction or consolidation that could seek support at 3,785-3,800 points in case of losing these supports. It is the range that analysts suggest to wait before making new purchases oriented to the medium term with an initial objective of 4,575 points.
The evolution of the dollar has been at the center of attention. After the sharp drop in its price since April, the US currency has been trying to reverse the situation with some glimpses of economic recovery that would check the Fed’s current accommodative monetary policy.
Recent hours upward movement of the greenback has slowed the advance of the euro against the dollar. The pair has plunged below the area of 1.2270 dollars per euro.
