Interesting charts August 2nd 2016
Comment of the Day

August 02 2016

Commentary by Eoin Treacy

Interesting charts August 2nd 2016

Eoin Treacy's view

All but one bank met the ECB’s stress test parameters yet Commerzbank and Deutsche Bank moved to new lows today highlighting how much pressure the Eurozone banking sector is under as result of the negative interest rate environment that is eating into their profitability at just the time they need to be bolstering their balance sheets. 

The Euro STOXX Banks Index continues to hold a progression of lower rally highs and a sustained move above 100 will be required to question potential for additional downside. 

Australia’s S&P/ASX 200 is susceptible to mean reversion following an impressive short-term rally since late June. 

Speculation that Biogen may be the target of a takeover has helped push the Nasdaq Biotech Index back above the 200-day MA to post a new recovery high. 

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