The ECB appears to have gotten the message that the economy is slowing and has now pledged data dependency towards hiking in September and/or beyond. Market pricing puts Sept hike odds at 38%.
European equities like what they heard. Closing changes today:
- Stoxx 600 +1.4%
- German DAX +1.7%
- FTSE 100 +0.3%
- French CAC +2.2%
- Italy MIB +2.1%
- Spain IBEX +1.0%
The DAX is up against the June highs now:
Dax daily