Key Takeaway:
European markets open higher, buoyed by easing trade tensions, strong US tech earnings, and expectations of central bank support. The euro consolidates near 1.1560, gold holds firm above $3,350, oil rebounds, and cryptocurrencies recover after last week’s correction. All eyes are on today’s US ISM Services PMI and Eurozone PMI data for further direction.
🏦 European Markets: Positive Start
| Index | Opening Level | Change (%) | Brief Comment |
|---|---|---|---|
| FTSE 100 | 9,096 | +0.31% | Steady gains, optimism returns |
| DAX (Germany) | 23,707 | +1.23% | Leads the region, tech earnings boost |
| CAC 40 | 7,603 | +0.81% | Follows global risk-on sentiment |
| STOXX 50 | 5,229 | +1.26% | Broad-based strength |
Summary:
European indices rebound after a volatile week, with the DAX and STOXX 50 leading gains. Sentiment is supported by positive Wall Street momentum and a pause in trade hostilities.
💱 Forex: EUR/USD and Major Pairs
| Pair | Rate | 24h Change | Key Supports | Key Resistances | Technical Comment |
|---|---|---|---|---|---|
| EUR/USD | 1.1560 | -0.10% | 1.1545 / 1.1505 | 1.1600 / 1.1640 | Consolidating, capped below 1.1600 |
| GBP/USD | 1.3280 | +0.04% | 1.3250 / 1.3200 | 1.3300 / 1.3350 | Holding steady, eyes on US data |
| USD/JPY | 147.19 | +0.12% | 147.00 / 146.50 | 148.00 / 148.50 | Recovery limited, Fed cut bets weigh |
EUR/USD Analysis:
- The euro is consolidating after last week’s NFP-driven rebound, with resistance at 1.1600 and support at 1.1545.
- Sentiment is cautious as traders await US ISM Services PMI and Eurozone confidence data.
🪙 Gold, Oil & Crypto: Resilience and Recovery
| Asset | Current Price | Trend/Comment |
|---|---|---|
| Gold (spot) | $3,380/oz | Consolidating, bullish bias, Fed cut hopes |
| WTI Oil | $66.90/bbl | Short-term rebound, OPEC+ supply in focus |
| Bitcoin (BTC) | $115,200 | Recovering, cautious sentiment, ETF flows eyed |
| Ethereum (ETH) | $3,500 | +6% gain, stabilizing after correction |
| Solana (SOL) | $168 | +7% in two days, ecosystem expansion |
| Dogecoin (DOGE) | $0.21 | +5%, testing resistance |
Key Insight:
Gold remains supported by dovish Fed expectations and trade uncertainty. Oil rebounds on risk appetite, but oversupply concerns persist. Crypto markets recover, with altcoins showing renewed momentum.
📅 Economic Calendar
| Time (CET) | Event | Expected Impact |
|---|---|---|
| 09:00-10:00 | Eurozone/Germany HCOB Services PMIs | Medium |
| 10:30 | UK S&P Global Services PMI (Final) | Medium |
| 14:30 | US ISM Services PMI | High |
| 14:30 | US Trade Balance | Medium |
| 22:30 | US API Weekly Crude Oil Stockpiles | Medium |
📈 Technical Levels to Watch
| Asset | Support | Resistance/Key Level |
|---|---|---|
| EUR/USD | 1.1545, 1.1505 | 1.1600, 1.1640 |
| Gold | $3,350 | $3,400, $3,434 |
| DAX | 23,707 | Watch for >23,700 continuation |
| Bitcoin | $115,000 | $116,000+ |
🔎 Quick Summary
- European stocks: Open higher, led by DAX and STOXX 50.
- Forex: EUR/USD consolidates, GBP/USD steady, USD/JPY capped.
- Gold: Holds above $3,350, bullish bias.
- Oil: Rebounds, but medium-term outlook cautious.
- Crypto: Bitcoin, Ethereum, and altcoins recover.
- Key focus: US ISM Services PMI and Eurozone PMIs.
For more analysis and real-time updates, follow www.ramonmorell.com and our social channels. Don’t miss the market pulse!
by Ramon Morell
El Mundo del Trading en los Mercados Financieros 