European Indices Surge Amid Mixed Global Market Sentiment

On this Thursday, as we reach the midpoint of the European session, we observe notable market shifts as American traders prepare for their opening. European indices such as the DAX and CAC have seen a sharp reversal, pushing significantly higher after recent declines. The contrast between European and American indices is clear—European markets had been considerably lower, so their recovery today is much more pronounced. While U.S. indices are moving sideways, Europe is leading with a brighter surge.

In the commodities sector, the story unfolds with ongoing weakness among metals. Gold, in particular, has broken a midterm uptrend line, creating a problematic scenario for this precious metal. The overall sentiment for gold this month has turned negative, with prices dropping nearly 4%. On the energy front, oil is showing resilience, bouncing off a key dynamic support level and attempting to regain bullish momentum.

Shifting to the earnings calendar, Walt Disney stands out with positive news. The company posted earnings that exceeded expectations, resulting in a 10% jump in pre-market trading—a substantial boost that has caught traders’ attention.

On the macroeconomic front, data from Australia has disappointed, with employment change figures coming in well below expectations, placing additional pressure on the Australian dollar. Looking ahead, the U.S. will release PPI data, providing insight into producer inflation, which could stir market reactions. Additionally, key speeches from influential central bankers, including ECB President Christine Lagarde, Fed Chair Jerome Powell, and Bank of England Governor Andrew Bailey, are anticipated to offer further direction to global markets.

In the currency market, the Australian dollar has emerged as the weakest performer, which is understandable given the poor job data. Other currencies under pressure include the British pound, Swiss franc, and Japanese yen. Meanwhile, the U.S. dollar and Canadian dollar are demonstrating strength, with North American currencies taking the lead in today’s 

Source: https://www.axiory.com/analytics/market-news/european-indices-surge-amid-mixed-global-market-se