|Bid||55.04 x 800|
|Ask||57.60 x 1100|
|Day's Range||56.83 - 57.19|
|52 Week Range||55.18 - 63.60|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.10%|
According to a report by Markit Economics, the final Eurozone Services PMI improved in June. It stood at 55.2 in June compared to 53.8 in May. The figure beat the preliminary market estimate of 55. It was the fastest expansion in services activity since February.
According to a report by Markit Economics, the final Spain Services PMI showed a weaker improvement in June than in May. It stood at 55.4 in June compared to 56.4 in May. The figure didn’t meet the preliminary market estimate of 56.2.
According to data provided by Markit Economics, the final Markit France Services PMI rose in June compared to May. It stood at 55.9 in June compared to 54.3 in May. The figure didn’t meet the initial market estimate of 56.4.
On June 23, 2016, the world was caught by surprise when British citizens voted to leave the European Union (HEDJ) (VGK). Currency and equity markets were in turmoil as a result of the exit decision, while safe-haven assets including the US dollar, the Japanese yen, and gold surged. After almost two years, the uncertainty related to Brexit could again come in as a support for gold and other precious metals.
According to a report by Markit Economics, Spain’s manufacturing PMI (purchasing managers’ index) remained unchanged in June. It stood at 53.4 in the month, unchanged from the same figure in May.
According to a report by Markit Economics, Germany’s final manufacturing PMI (purchasing managers’ index) has been weakening gradually since December 2017.
Global markets might seem unusually risky at the moment, with stocks vulnerable to the threat of a trade war and bonds facing rising interest rates, but one investment firm is fairly optimistic about pretty much everything.
For the past few months, Donald Trump has been focused on reducing the United States’ trade deficit by imposing tariffs on imports of certain goods from China (FXI), Mexico, Canada, and the European Union (VGK). In retaliation, China announced plans to impose an additional 25% tariff on $50 billion in US imports, prompting Harley-Davidson to decide to shift its US production facility overseas to avoid tariffs.
Famous economist David Rosenberg said in an interview with CNBC on June 26 that rising trade tension could affect US businesses (SPY). Donald Trump has announced import tariffs on Chinese products, steel and aluminum from various countries, and European cars, aimed at protecting the domestic market and maintaining fair trade practices.
The major developed market economic indicators investors should keep an eye on next week are as follows: United States (SPY) manufacturing PMI (purchasing managers’ index) Eurozone (VGK) manufacturing PMI Japan manufacturing PMI United Kingdom (EWU) manufacturing PMI Spain manufacturing PMI Germany manufacturing PMI France manufacturing PMI ADP employment report Non-farm payroll report Series overview
According to data provided by the Centre for European Economic Research (ZEW), the Germany ZEW Economic Sentiment Index has again fallen in June. It stands at -16.1 so far this month compared to -8.2 in May—below the market’s expectation of -14 and the weakest figure since September 2012.
Do the Eurozone’s Key Economic Indicators Signal More Pain Ahead? On a year-over-year basis, the Eurozone inflation index (VGK) (IEV) stood at 1.9% in May compared to 1.2% in April, according to data provided by Eurostat. The inflation figure in May was mainly the result of improvements in the prices of oil, energy products, and food.
According to a report by the Centre for European Economic Research (ZEW), the Eurozone ZEW Economic Sentiment Index has fallen significantly so far in June. It stands at -12.6 so far in June compared to 2.4 in May. It hasn’t met the market’s expectation of 0.1, and it’s at its lowest level since July 2016.
The key Eurozone economic indicators released in the past week were as follows: German (EWG) ZEW Economic Sentiment Index UK (EWU) inflation Eurozone consumer confidence Eurozone ZEW Economic Sentiment Index German Ifo Business Climate Index Eurozone (VGK) inflation
Economic data released from the euro area remained upbeat as economic data that included German and French business activity was better than expected. The other major factor that drove the euro higher was the assurances by Italian politicians that their nation would stay within the European Union. European equity markets, which are tracked by the Vanguard FTSE Europe ETF (VGK), didn’t have the same enthusiasm as the euro, as new tariff threats to the European car industry from the Trump administration unnerved investors.
Could Gold Prices Remain Supported as Trade Risks Rise? As we discussed in the previous part of this series, the Trump administration has been escalating trade war tensions with China. The administration’s planned initiatives relate to cutting off technology that China needs to deliver on its Made in China 2025 strategy.
Germany’s chancellor, Angela Merkel, is facing a political crisis as its coalition partner, CSU (Christian Social Union), is opposing her stance on immigration. Seehofer is proposing to block refugees who have registered in another European country to enter Germany. Merkel has until June 28 to strike a deal with her fellow EU (European Union) leaders and satisfy the hardliners at home.
Eurozone (FEZ) (VGK) investor confidence has weakened this month, falling month-over-month to 9.3 so far from 19.2. The market expected it to be at 18.4.
According to Markit Economics, the Eurozone’s service PMI fell month-over-month in May, to 53.8 from 54.7. It missed the market estimate of 53.9 and marked its weakest expansion since January 2017.
According to Markit Economics, Spain’s service PMI rose marginally month-over-month in May, to 56.4 from 55.6. It beat the market estimate of 56.1 but marked its weakest expansion since December 2017.
According to Markit Economics, France’s service PMI weakened month-over-month in May, falling to 54.3 from 57.4. It met the market estimate of 54.2.