European Shares Seen Flat To Higher At Open

(RTTNews) - European stocks may open flat to slightly higher on Tuesday, with trading volumes likely to remain thin amid the Independence Day holiday in the U.S.

Asian markets traded mixed, with investors awaiting the minutes of the June FOMC meeting due on Wednesday followed by the U.S. monthly jobs data on Friday for clarity on U.S. interest rates.

Foreign trade data from Germany is the only major economic data due today, headlining a light day for the European economic news.

Closer home, Destatis is scheduled to issue Germany's external trade data for May latter in the day.

Exports are forecast to grow at a slower pace of 0.3 percent on month in May, while imports are expected to rebound 3.1 percent.

The Aussie dollar weakened across the board after the Reserve Bank of Australia chose to stand pat on interest rates, saying it needs more time to assess the state of the economy.

Copper prices eased as weak economic data from top metals consumer China suggested a gloomy demand.

The dollar firmed up and gold was little changed while oil prices recovered some ground, after having fallen about 1 percent in the U.S. trading session overnight on fuel demand concerns.

Overnight, U.S. stocks eked out modest gains amid an abbreviated trading session ahead of the Independence Day holiday.

Higher yields lifted banks and Tesla reported stronger-than-expected quarterly sales, helping offset data showing U.S. manufacturing contracted in June for an eighth straight month.

The Dow edged up marginally, the S&P 500 gained 0.1 percent and the-heavy Nasdaq Composite rose 0.2 percent.

European stocks reversed course to end lower on Monday after new surveys showed global factory activity slumped in June amid rising interest rates.

The pan European STOXX shed 0.2 percent. The German DAX dropped 0.4 percent, France's CAC 40 slipped 0.2 percent and the U.K.'s FTSE 100 slipped 0.1 percent.