European Economic News Preview: France Industrial Output Data Due
(RTTNews) - Industrial production from France and unemployment from Spain are the only important economic data due on Friday.
At 2.45 am ET, France's statistical office Insee publishes industrial output for April. Production is expected to grow 0.3 percent on month, in contrast to the 1.1 percent decrease in March.
At 3.00 am ET, Spain's unemployment data is due. Economists forecast unemployment to fall 40,100 in May following a decrease of 73,900 in April.
In the meantime, final GDP data is due from Austria. The preliminary estimate showed that the economy shrank 0.3 percent sequentially after remaining flat a quarter ago.
At 4.00 am ET, unemployment data is due from Norway.
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Australian Dollar Falls Amid Risk Aversion
The Australian dollar weakened against other major currencies in the Asian session on Friday amid risk aversion, following the broadly sell-off on Wall Street overnight, after the recent release of stronger-than-expected U.S. economic data and the slightly hawkish Fed minutes renewed concerns the U.S. Fed will keep interest rates higher for longer than previously thought. The concerning escalation in the tensions between Taiwan and China is also weighing on the markets.
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European Economic News Preview: UK Retail Sales Data Due
Retail sales from the UK and detailed quarterly national accounts from Germany are the top economic news due on Friday. At 2.00 am ET, the Office for National Statistics releases UK retail sales data for April. Retail sales are forecast to fall 0.4 percent on month after staying flat in March.
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European Shares Set To Follow Wall Street Lower
European stocks may drift lower at open on Friday as traders pushed back the timing of first rate cut by the U.S. Federal Reserve to December.
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Sensex, Nifty Listless In Early Trade
Indian shares struggled for direction on Friday as strong U.S. economic data released overnight led traders to push back the timing for the first full quarter-point Federal Reserve interest-rate cut to December from November earlier.
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Asian Markets A Sea Of Red
Asian stock markets are a sea red on Friday, following the broadly sell-off on Wall Street overnight, after the recent release of stronger-than-expected US economic data and the slightly hawkish Fed minutes renewed concerns the US Fed will keep interest rates higher for longer than previously thought. The escalation in tensions between Taiwan and China is also weighing on the markets.
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Sensex, Nifty Set For Muted Open As US Rate-cut Odds Dwindle
Indian shares are seen opening on a muted note Friday as U.S. interest-rate worries persist.
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Japanese Market Sharply Lower
Reversing the gains in the previous session, the Japanese stock market is sharply lower on Friday, following the broadly negative cues from Wall Street overnight. The benchmark Nikkei 225 is falling well below the 38,700 level, with weakness across most sectors led by index heavyweights and technology stocks.
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