Traders took some profits from yesterday’s massive rally in stock indices, and Tuesday saw some selling early in the EU morning.

During the Asian session, China’s exports grew at a slightly faster rate in September, up 9.9% yearly, compared with a 9.5% increase in August. This marks a fourth straight month of gains, suggesting that the Chinese economy continues to recover.

Not so positive data came out of Germany, where inflation runs below zero, most likely prompting the ECB to ease monetary policy further soon. 

Later in the day, German ZEW surveys are due, and the market expects a deterioration from previous levels. More lockdowns and restrictions are certainly bad for businesses. 

Inflation data are also due from the US later in the day, and the CPI index is forecast to improve slightly to 1.4%. However, that is still far far away from the Fed’s target of 2.5%.

Additionally, Johnson & Johnson paused its Covid-19 vaccine candidate clinical trials due to an unexplained illness in a study participant. Equities corrected some of their yesterday’s gains after this news.

Source: https://www.axiory.com/market-news/sentiment-worsens-on-tuesday-after-bad-vaccine-news

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Peter Bukov

Peter comes from a background in corporate finance which began in 2013 when he completed the Corporate Finance Program at the University of Economics in Bratislava. He’s been actively involved in the market sector since 2008 and got his hands-on experience in trading in 2011. His experience in finance and trading continues not only as a market analyst at Axiory Intelligence but also through his studies to obtain a degree in Capital Markets. The study is in line with MIFID II regulations and is under the supervision of the European Regulator ESMA, which strongly emphasizes ethics and morale in investing and working with a client.

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