European Markets Await Key Economic Indicators

As the new week begins, European equities are showing a downward trend in premarket trading. Investors are closely watching for the latest inflation data from Germany and mortgage approval figures, which are expected to influence the European Central Bank (ECB) and the Bank of England's (BoE) upcoming monetary policy decisions. Additionally, Germany's retail sales data is eagerly anticipated.

Market Performance Highlights

The DAX index saw a decline of 0.832% by 8:00 am CET, while the FTSE 100 and CAC 40 experienced drops of 0.61% and 0.57%, respectively. The Euro Stoxx 50 wasn't spared, falling by 1.03%.

Currency Movements

At 7:58 am CET, the euro remained stable against the US dollar, trading at $1.08342. In contrast, the pound sterling gained 0.12% against the dollar, reaching $1.29565.