03.07.2020 DAX Daily Analysis

03.07.2020 DAX Daily Analysis

European stock markets traded cautiously fashion Friday, with investors having to weigh up improving economic data against an acceleration in Covid-19 infections, particularly in the U.S. At 4:10 AM ET (0810 GMT), the DAX in Germany traded 0.2% higher, France's CAC 40 fell 0.1%, the U.K.'s FTSE index was down 0.1%. Volumes are likely to be limited with the U.S. on holiday to celebrate Independence Day. The final PMI services indices for Europe showed the region picking up but not quite ending its decline, climbing to 48.3 in June from 30.5 the previous month. Turning back to Europe, stock in U.K.-based banking giant HSBC (LON: HSBA) fell 0.5% after pledging to boost investments in China At 4:10 AM ET, U.S. crude futures traded 1.4% lower at $40.07 a barrel. The international benchmark Brent contract fell 1.4% to $42.55.Elsewhere, gold futures fell 0.3% to $1,785.25/oz, while EUR/USD traded at 1.1235, flat on the day.