For the bulls, important resistance at 15806 where the all time high from June 14th stands, also at 15975.00 which is the 161.8% Fibonacci extension target, and at 16697.00 261.8% Fibonacci second extension target.
For the bears, important support at 15450 where the MA50 is trending now, also at 15257.00 bottom of June 21st , and finally at 15000.00 psychological level where the MA100 stands now.
Economic data coming from the Eurozone will be in focus today. Stats expected on French Budget Balance, Spanish Unemployment figures, Eurozone Producer Price index and possible comments from the ECB President Christine Lagarde.
• European shares ended higher on Thursday as a rally in crude prices saw energy stocks surge more than 2%, while strong earnings reports helped dispel some concerns over the infectious "Delta" variant of the coronavirus.
The pan-European STOXX 600 closed 0.6% higher at 455.63 points, with energy stocks marking their best day in one month.
• Germany's manufacturing sector observed a slight improvement in comparison to the previous month, with the Manufacturing Purchasing Manager's Index (PMI) coming in at 65.1, beating expectations, IHS Markit and BME unveiled in their report published on Thursday.
• The manufacturing sector activity in the Eurozone increased in June with the Purchasing Managers Index (PMI) landing at 63.4, the IHS Markit said in its final report released on Thursday. The figure was revised up by 0.3 percentage points compared to the flash estimate, to surpass the analysts' expectations and set a new record high.
• The seasonally-adjusted unemployment rate in the euro area decreased by 0.2 percentage points when compared to the previous month standing at 7.9% and beating market expectations, the European Union's statistical office Eurostat unveiled on Thursday.
• Britain's factories extended their post-lockdown recovery in June and ramped up hiring, but they also faced record inflation pressures due to supply chain problems caused by the coronavirus pandemic, a survey showed on Thursday.
The IHS Markit/CIPS UK Manufacturing Purchasing Managers' Index (PMI) dipped to 63.9 from an all-time high of 65.6 in May. It was also down a touch from a preliminary "flash" reading for June of 64.2.
Important Daily Events:
• At 06:45 (GMT) French Gov Budget Balance is due. This indicator measures the difference in value between the central government's income and spending for the year-to-date.
• At 07:00 (GMT) Spanish Unemployment Change is also due. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.
• At 09:00 (GMT) EU Produce Price Index (PPI) is expected . The PPI measures the Change in the price of finished goods and services sold by producers.
• At 12:30 (GMT) ECB President Christine Lagarde is due to participate in a panel discussion titled "What have we learnt in 2020?" at the Rencontres Économiques d'Aix-en-Provence, in France.
European indices Yesterday :
• DAX: +0.47%
• EUROSTOXX 50: +0.36%
• FTSEMIB: +0.73%
• CAC40: +0.71%
Sources: Investing.com, forexfactory.com, breakingthenews.net