The markets seemed that they rallied after the announcement of the increase of the ECB’s interest rate and the DAX, the S&P500, and the DOW30 closed the week higher with 0.29%, 3.65%, and 2.43% respectively. We consider this as an event bear market rally because all the fears of the upcoming recession are being discounted constantly by the investors. That explains why the global markets are falling and the main trend is downward since January 2020. An upcoming article will be written to discuss the opinion of why the markets haven’t seen their troughs yet and what indications are driving them to that path.
The Economic Calendar of the week (12/9 – 16/9) has the U.S Consumer Inflation Expectations, the German CPI for August, the German ZEW Economic Sentiment for September, the EU ZEW Economic Sentiment for September, the U.S NFIB Optimism for August, the U.S CPI for August, the Eurozone Industrial production for July, the U.S PPI for August, the U.S Crude oil Inventories (weekly estimated), the E.U Trade Balance for July, and the U.S Continuing Jobless Claims(weekly estimated).
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