News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Heads Up:🇯🇵 BoJ Gov Kuroda Speech due at 05:35 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-27
  • 🇯🇵 Leading Economic Index Final (JUL) Actual: 104.1 Previous: 104.2 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Crude Oil Prices Hit 2-Month High on Supply Squeeze, 2021 Top Eyed - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/09/27/Crude-Oil-Prices-Hit-2-Month-High-on-Supply-Squeeze-2021-Top-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #OOTT #crudeoil https://t.co/Rx9kbVPlys
  • 🇯🇵 Leading Economic Index Final (JUL) Actual: 104.1 Previous: 104.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • 🇯🇵 Coincident Index Final (JUL) Actual: 94.4 Previous: 94.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Previous: 94.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Previous: 104.6 https://www.dailyfx.com/economic-calendar#2021-09-27
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/I4C6fBkYPe
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIasun https://t.co/Iqa6geONY6
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (AUG) due at 01:30 GMT (15min) Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-27
IBEX 35 Forecast: Coronavirus, IMF Outlook Paint Bleak Picture for Spain

IBEX 35 Forecast: Coronavirus, IMF Outlook Paint Bleak Picture for Spain

Brendan Fagan,

IBEX 35, Covid, IMF Outlook:

  • Spain continues to struggle with virus containment as cases and deaths surge
  • European equities sell off as fears over rising cases, low vaccination rates shift sentiment
  • Cases, economic forecasts remain bleak, represent significant headwinds for Spanish economy

The IBEX 35, Spain’s benchmark stock index, continued its recent slump on Tuesday as indices across continental Europe declined. The risk-off sentiment prevailed as fears grew regarding new strains of the coronavirus and issues with vaccination availability. The IBEX 35 declined by 1.41%, echoing the risk-off tone that was felt across Europe. So far in 2021, the index is down 2.74%. The DAX 30, FTSE 100, and CAC 40 declined over 1% on the same day.

IBEX 35 - 1 MIN CHART

IBEX 35 chart

Created with TradingView

Spain continues to struggle with containing the coronavirus, as the total number of cases has now exceeded 2.6 million. On Tuesday, the Spanish Health Ministry reported 36,435 new cases and 591 deaths. The new death figure represents a high for the third wave of the virus and reaches a level not seen since June 2020. The total reported death toll now stands at 56,799. New restrictions forcing the population to stay home may pose a significant headwind for the index, and perhaps push prices lower.

TOTAL CORONAVIRUS CASES IN SPAIN

Spain Covid cases chart

Courtesy of worldometers.info

The Spanish economy continues to bear the brunt of the coronavirus pandemic in the Eurozone. According to the International Monetary Fund (IMF), Spain will experience the largest economic contraction among Eurozone members. The IMF has forecasted an 11.1 percent contraction in the nation, while all other members are expected to have declines of less than 10 percent in 2020. Spain is also expected to experience a weaker rebound, as the economy relies heavily on tourism and related services. Should the virus subside and populations become vaccinated, the IBEX may represent an ideal combination of a value and a rebound play. However, much hinges on the containment of the virus and the willingness/ability of citizens to get vaccinated.

--- Written by Brendan Fagan, Intern

Follow me on Twitter at @BrendanFaganFx

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES