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European Economic News Preview: Germany Ifo Business Confidence Data Due
(RTTNews) - Business sentiment survey data from Germany is due on Monday, headlining a very light day for the European economic news.
At 3.00 am ET, the Czech Statistical Office releases producer prices for November. Economists forecast producer prices to grow 1.0 percent annually after a 0.2 percent rise in October.
At 4.00 am ET, the Munich-based ifo Institute is scheduled to issue Germany's business confidence survey results. The business climate index is forecast to rise to 87.8 in December from 87.3 in November.
At 5.30 am ET, Bank of England policymaker Ben Broadbent speaks at London Business School.
At 6.00 am ET, Germany's central bank is set to publish monthly report.
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Pound Eases Against Most Majors
The pound retreated against its most major counterparts in the New York session on Monday.
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Swiss Market Ends Marginally Down
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European Markets Close On Firm Note As Stocks Rebound On Bargain Hunting
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U.S. Factory Orders Pull Back Sharply In June
After reporting a substantial increase by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Monday showing factory orders pulled back sharply in the month of June. The Commerce Department said factory orders dove by 4.8 percent in June after soaring by an upwardly revised 8.3 percent in May.
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Weak Jobs Data Limits Dollar's Rebound
A smaller-than expected addition to non-farm payrolls curtailed the dollar's rally fueled by a hawkish Fed stance, higher-than-expected PCE-inflation readings, as well as anxiety ahead of the U.S.-China trade talks and the looming trade tariff deadline.
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Eurozone Investor Sentiment Weakens Unexpectedly
Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.
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Bay Street Seen Opening On Cautious Note
Canadian stocks may open on a mixed note on Monday with investors likely to stay cautious ahead of implementation of levies imposed by U.S. President Donald Trump, and a slew of earnings announcements due this week. Weak oil prices may weigh a bit.
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FTSE 100 Modestly Higher; Lloyds Banking Group Rises Nearly 8%
The UK market is up in positive territory on Monday with stocks from the financial sector contributing significantly to the upmove after the outcome from the UK's motor finance investigation turned out to less severe than feared, with potential compensation estimated at 9 billion pounds, much less than the expected quantum o 30 billion pounds.
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