Market Overview - July 9, 2026
Economic Calendar Highlights
Today's macroeconomic calendar is expected to drive volatility in the EUR/USD currency pair, government bonds, and natural gas markets. Key events include:
- Germany's trade data
- ECB Meeting Minutes
- Weekly U.S. labor market report
- U.S. existing home sales
- EIA natural gas storage report
- Speeches from Federal Reserve and Bank of England officials
- PepsiCo's quarterly earnings release
Key Economic Data
Germany
- Trade Balance: Actual: EUR 19.1B | Forecast: EUR 14.8B | Previous: EUR 14.5B
- Imports MoM: Actual: -2.5% | Forecast: -0.8% | Previous: +1.2%
- Exports MoM: Actual: +0.9% | Forecast: -0.4% | Previous: +0.9%
United States
- Initial Jobless Claims: Forecast: 217K | Previous: 215K
- Continuing Jobless Claims: Forecast: 1.814M | Previous: 1.814M
- Existing Home Sales: Forecast: 4.20M | Previous: 4.17M
- Existing Home Sales MoM: Forecast: 1.0% | Previous: 3.2%
- EIA Natural Gas Storage Change: Forecast: 58 billion cubic feet | Previous: 87 billion cubic feet
Market Analysis
EUR/USD
The EUR/USD is currently trading below both the 200-day and 50-day exponential moving averages, indicating that the broader downtrend remains intact.
PepsiCo (PEP.US)
PepsiCo shares have seen a decline of nearly 20% from their recent highs, currently trading about USD 5 below the 200-day EMA. A strong earnings report could potentially lift the stock above this key technical level, supporting a trend reversal. Key support is identified around USD 130–132 per share, while major resistance lies in the USD 147–150 range. A decisive breakout above this resistance could pave the way for a move towards USD 170 per share.
Market Updates
- Defense stocks fell following the NATO Summit, with Rheinmetall dropping 4% and KNDS suspending its IPO.
- Capital flows have returned to the tech sector, with ASML rising by 2.5%.
- Oil prices have retreated while chip stocks have rallied as the market normalizes after recent fluctuations.
- The US100 index rebounded by 1%, with SK hynix attracting record demand ahead of its Nasdaq debut.