European Stocks Brace For A Cautious Opening On Wednesday

RTTNews | Před 909 dny

(RTTNews) - European stock markets are likely to open cautious on Wednesday amidst a more-than-expected decline in headline inflation in the U.S. and impending central bank decisions. Annual CPI in the U.S. dropped to 7.1 percent, versus 7.7 percent in the previous month and expectations of 7.3 percent. The euphoria over declining inflation is however expected to be mellowed by the anxiety ahead of the interest rate decisions due on Wednesday by the Fed and on Thursday by Bank of England and European Central Bank.

The positive inflation surprise lifted the Wall Street higher on Tuesday, with the Nasdaq Composite rallying 1.01 percent to close at 11,256.81 and the Dow Jones Industrial Average adding 0.3 percent to finish trading at 34,108.64.

The positive sentiment reverberated in the European markets too and by close of trading on Tuesday, France's CAC 40 rallied 1.42 percent, Germany's DAX gained 1.34 percent, the pan-European Stoxx 600 added 1.3 percent, Switzerland's SMI advanced 0.93 percent and U.K.'s FTSE 100 strengthened 0.76 percent.

Indications from the European stock futures however portend a weak opening on Wednesday. The FTSE 100 Futures (Mar) is currently trading 0.01 percent higher. The DAX Futures (Dec) is currently trading 0.05 percent lower. The CAC 40 Futures (Jan) had closed 1.19 percent higher on Tuesday.

American stock futures indicate markets extending gains. The US 30 (DJIA) index and the US500 (S&P 500) are both up 0.3 percent.

Asian stock markets are trading in the green zone amidst widespread relief over the easing in CPI numbers in the U.S. South Korea's KOSPI is trading 1.03 percent higher. Hong Kong's Hang Seng has rallied 0.95 percent. Japan's Nikkei 225 has gained 0.75 percent. Australia's S&P ASX 200 added 0.67 percent. India's Nifty 50 and China's Shanghai Composite are trading 0.3 percent higher. New Zealand's NZX 50 has however dropped 0.14 percent.

Amidst caution ahead of the Fed policy, the Dollar and the Dollar Index (DXY) - a measure of the Dollar's strength relative to six currencies - have increased from the flatline. DXY is currently at 104.08, gaining 0.09 percent. The EUR/USD pair edged down to 1.0627 whereas the GBP/USD pair edged lower to 1.2358.

Amidst the Dollar's mild rally, Gold Futures for February settlement has edged down 0.25 percent to trade at $1,820.85 per troy ounce.

The surprise build in crude oil inventories in the U.S. dragged both the crude oil benchmarks lower. WTI Crude Futures for January settlement has decreased 0.4 percent to $75.08, whereas Brent Crude Futures for February settlement has fallen 0.5 percent to $80.31.

U.K. awaits inflation readings for the month of November. Headline inflation is seen falling to 10.9 percent from 11.1 percent earlier whereas Core inflation is seen steady at 6.5 percent. Industrial production data from the Euro Area is expected to show a decline of 1.5 percent versus growth of 0.9 percent in the previous month.

Earnings updates are due from Metro Wholesale and Food Specialist, Watches of Switzerland Group and IntegraFin Holdings.

Japan Producer Price Data Due On Wednesday

Japan will on Tuesday release May figures for producer prices, highlighting a light day for Asia-Pacific economic activity. In April, producer prices were up 0.2 percent on month and 4.0 percent on year.

RTTNews | Před 11 minutami

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | Před 1 h 57 min

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | Před 2 h 3 min

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | Před 2 h 44 min

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | Před 4 h 9 min

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | Před 4 h 25 min

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | Před 5 h 32 min

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | Před 6 h 8 min

EURUSD	1.14282	GBPUSD	1.35016	AUDUSD	0.65244
USDJPY	144.851	USDCAD	1.36715	USDCHF	0.82242

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European Stocks Brace For A Cautious Opening On Wednesday