Eurozone Macro Daily(Beta Mode)
Bundesbank Sees No Recession
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Euro Stoxx 50 | 6,057.71 | +2.10% |
| DAX | 24,702.24 | +2.27% |
| CAC 40 | 8,425.13 | +1.97% |
| EUR/USD | 1.18 | -0.21% |
| EUR/GBP | 0.87 | -0.00% |
| EUR/JPY | 186.83 | -0.39% |
| Gold | 4,857.60 | +1.51% |
| Brent Crude | 90.38 | -9.07% |
| Bitcoin | 74,158.20 | -2.07% |
| German 2Y Bund | - | - |
| German 10Y Bund | 2.91% | +5.84% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
German 10Y Bond Yield | Type: macro_line | German 10Y %: 2.905 (2026-03-01) | Range: -0.5386–2.905 | Trend(6pt): -0.2235,1.082,2.661,2.306,2.807,2.905
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Producer Price Index Year-over-Year | -3.30 | - | 22:00 |
| Trade Balance | -4,000m | - | 00:00 |
| ZEW Economic Sentiment Index | -0.50 | -10 | 01:00 |
| Consumer Confidence Index | -30 | - | 20:30 |
| Business Confidence Index | 99 | 98 | 22:45 |
| S&P Global Composite PMI Flash | 48.80 | - | 23:15 |
| S&P Global Manufacturing PMI Flash | 50 | 49.50 | 23:15 |
| S&P Global Services PMI Flash | 48.80 | 48.50 | 23:15 |
| S&P Global Manufacturing PMI Flash | 52.20 | 51.20 | 23:30 |
| S&P Global Composite PMI Flash | 51.90 | - | 23:30 |
- German equities surged over 2% amid Bundesbank optimism on avoiding recession.
- Brent crude plunged 9% on easing supply fears, pressuring energy sectors.
- ECB signals vigilance on inflation, boosting Bund yields.
Yesterday's Recap
Eurozone equities rallied strongly, with the Euro Stoxx 50 climbing 2.10% to 6,057.71, driven by gains in German and French indices. Germany's DAX advanced 2.27% to 24,702.24, buoyed by positive Bundesbank comments on economic resilience. France's CAC 40 rose 1.97% to 8,425.13, supported by luxury and tech sectors.
The EUR/USD dipped 0.21% to 1.18, while EUR/JPY fell 0.39% to 186.83, reflecting broader dollar strength. German 10-year Bund yields rose to 2.91% with a 5.84% change, reacting to hawkish ECB rhetoric. No major data releases occurred yesterday, April 19, but markets digested Bundesbank chief's assurance that Germany is unlikely to enter recession, lifting sentiment.
Brent crude tumbled 9.07% to 90.38, weighing on energy-exposed assets across the region. Gold rose 1.51% to 4,857.60 as a safe haven, while Bitcoin declined 2.07% to 74,158.20.
The Day Ahead
Focus shifts to key indicators today, April 20. Germany's Producer Price Index Year-over-Year releases at 22:00 ET, prior -3.3%. Spain's Trade Balance at 00:00 ET, prior -4 billion euros.
Germany's ZEW Economic Sentiment Index at 01:00 ET, consensus -10 from prior -0.5, a high-impact release for market sentiment. Netherlands' Consumer Confidence Index at 20:30 ET, prior -30.0. France's Business Confidence Index at 22:45 ET, consensus 98 from 99.
France's S&P Global PMI flashes at 23:15 ET: Composite prior 48.8, Manufacturing consensus 49.5 from 50.0, Services consensus 48.5 from 48.8. Germany's S&P Global PMI flashes at 23:30 ET: Manufacturing consensus 51.2 from 52.2 (high impact), Composite prior 51.9, Services consensus 50.4 from 50.9. France's Consumer Confidence Index at 22:45 ET, consensus 88 from 89.
Germany's Ifo Business Climate at 00:00 ET, consensus 84.8 from 86.4, another high-impact gauge for business outlook and ECB policy implications.
Other Economic Notes
Eurozone faces ongoing fiscal challenges, with hawks advocating stricter debt rules amid concerns over Italy's deficits. Germany's Chancellor Merz plans crisis talks on energy price impacts, highlighting vulnerabilities in the sector. (cont...)
