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EUR Volatile Alongside Early Equity Losses

EURO

EUR a little volatile (EUR/USD shedding around 25 pips) alongside the cash equity open in Europe, with DAX taking a sharp knock of ~2.5% in early trade.

  • The tech sector in particular is suffering with Germany's SAP leading the losses (down as much as 20%) as they scrap their assumption that economies will 'reopen' in the short-term, which has pushed back certain profitability targets by 2 years.
  • Plenty of EuroStoxx 50 earnings due throughout this week and into the beginning of November. Markets on watch for further downward revisions in light of new lockdowns.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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