• European stocks finished session in red
• Technology-related shares continue their upside movmement
European indices finished today’s session lower. Worse sentiment prevailed due to the increase in the number of new coronavirus cases in Germany, US, China and Australia. Investors again began to fear the second wave of pandemic.
Yesterday coronavirus reproduction rate in Germany rose to 2.88, up from 1.79 a day earlier, a rate showing infections are rising above the level needed to contain the spread of the virus over the longer term, according to The Robert Koch Institute. Meantime, the WHO reported on Friday over 183 thousand new infections, which is the largest single-day increase since the beginning of the pandemic. On the corporate side, Wirecard (WDI.DE) admitted that missing EUR 1.9 billion of cash on its balance sheet probably does not exist. Meanwhile Lufthansa's (LHA.US) largest shareholder Heinz Hermann Thiele will discuss with German politicians his objections to the state-backed bailout. German DAX stock index lost 0.8%, while the French CAC40 fell 0.68%, and London FTSE closed 0.81% lower.
A lot of PMI indices from Australia, Japan, Euro Zone and US will be released tomorrow. Also API will release its weekly statistical bulletin.
EUR/USD rose 0.7% to $1.1258, moving away from 2-week lows of $1.11680, amid a softer dollar. If buyers will manage to push the price above 1.1263 resistance level then upward impulse toward 1.1358 may be launched. Source: xStation5
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