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What`s in the Pipeline?

06744 CC Trader Talk V2

Friday Recap

European stock markets finished the Friday trading session on a slightly higher note as the trade dispute between the United States and China escalated into a full-blown trade war after the world’s two largest economies imposed tariffs on $34 billion worth of each other’s imports. US President Donald Trump said that his country is going to "win the war on trade because we’ve got all the cards," while Beijing stated that "unilateral pressure will be futile" and that the trade war will benefit no one.

The FTSE 100 was 0.07% higher at the closing bell, with ITV commercial network the best performer. The DAX finished the session with a 0.21% gain, with RWE leading the gains. Meanwhile, the CAC 40 added 0.03% to finish the trading day slightly in the green, pushed higher by Veolia.


Volkswagen AG announced that international vehicle deliveries of its flagship brand grew 6.3% in the first half of 2018 compared to the same period last year, reaching 3.12 million cars in this time span for the first time ever. In the month of June alone, the company’s customers bought 534,000 vehicles in total.

In Germany, Volkswagen’s home market, the company sold 55,200 units which is 4.7% higher than the previous year. The customers in Central and Eastern Europe received 26,700 vehicles, an increase of 16.8% compared to the previous year. Meanwhile, the market of sports utility vehicles, or SUVs, was a big success in the United States, where the company’s deliveries rose 5.7% to 28,900. Finally, Volkswagen sold 228,500 vehicles in China, a similar result as last year.

This week

The focus this week will shift squarely back onto Asia, with a raft of economic indicators on the Asian giant set for release. They will be especially relevant this time around, given recent tensions in the country’s financial markets and building trade tensions.

First out will be data on the country’s stash of foreign exchange reserves covering the month of June, which may help to shed some light as to how active – or not – Beijing has been of late in currency markets.

They will be followed by figures on the country’s money supply and new loans for June, on Monday, and consumer and factory gate price data for June on Tuesday.

In the UK, manufacturing production and foreign trade data for May are due out on Wednesday. Meanwhile company earning will kick off with Barratt Developments, ASOS and Ocado.

In the euro area, the minutes of the European Central Bank’s last policy meeting, on Thursday, will likely be of key interest.

In the US, the earnings season is upon us once again, and while it technically kicks off with PepsiCo on Tuesday, it is the US banks on Friday that will command attention.

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