European Shares To See Cautious Open As Risk Aversion Deepens

RTTNews | 860 hari yang lalu

(RTTNews) - European stocks may drift lower at open on Wednesday as worries about the U.S. banking sector deepened and data showed China's new home prices fell for the first time this year in July, complicating policy efforts to revive the economy.

Asian markets traded lower on persisting worries about the worsening economic conditions in China and signs the Federal Reserve may keep interest rates higher for longer to tame inflation.

After the release of stronger-than-expected U.S. retail sales data on Tuesday, traders now predict fewer rate cuts in 2024 than previously predicted.

Meanwhile, home improvement retailer Home Depot topped profit and sales expectations in its most recent quarter, but salles continued to decline as a result of higher inflation and soaring interest rates.

Forward-looking comments about consumer spending from Target and Walmart this week could add more understanding to consumer spending trends. Copper prices hit a two-month low and oil extended overnight losses on China demand concerns.

The dollar traded at six-week highs in Asian trading and yields held ground while gold hovered near one-month lows, as investors await the FOMC minutes and comments from Fed officials for fresh impetus.

Minneapolis Federal Reserve President Neel Kashkari on Tuesday said that inflation has shown signs of slowing in recent months, but interest rates may still need to go higher to actually get inflation all the way back down to the 2 percent target.

The European economic calendar remains heavy today, with EU industrial production data and preliminary Q2 GDP estimates likely to attract investor attention later in the day.

Overnight, U.S. stocks hit a five-week low while longer-term Treasury yields hit their highest levels this year after data showed retail sales rose more than expected in July, denting dovish Fed bets.

The sell-off was compounded by weak economic data from China and a warning from Fitch that U.S. banks, including JPMorgan Chase, could be downgraded.

The Dow dropped 1 percent, the S&P 500 declined 1.2 percent and the tech-heavy Nasdaq Composite fell 1.1 percent.

European stocks closed notably lower Tuesday on concerns about the Chinese property sector and an uncertain outlook for interest rates.

The pan European STOXX 600 shed 0.9 percent. The German DAX gave up 0.9 percent, France's CAC 40 lost 1.1 percent and the U.K.'s FTSE 100 slumped 1.6 percent.

Cautious Optimism Expected In European Markets

Stock markets in Europe are expected to trade on a cautiously optimistic note on Tuesday amidst rising geopolitical tensions, Fed rate cut hopes, thin holiday trade as well as mixed reactions to tech valuations.

RTTNews | 1j 35min yang lalu

RBA Minutes: Policymakers Discussed Rate Hike Scenario

Policymakers of the Reserve Bank of Australia discussed scenarios in which policy tightening may need to be considered, the minutes of the meeting held on December 8 and 9 showed Tuesday. Members became less confident that monetary policy remains restrictive, the minutes showed. Policymakers assessed that inflationary pressures could be a little more persistent than had been previously estimated

RTTNews | 1j 39min yang lalu

Australian Market Sharply Extends Early Gains In Mid-market

The Australian stock market is sharply expending the early gains in mid-market trading on Tuesday, adding to the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,750 level, with gains across most sectors led by financial and technology stocks.

RTTNews | 4j 6min yang lalu

Indian Shares Look Headed For Another Positive Start

It's likely to be a firm start for Indian shares on Tuesday with investors set to track positive cues from Wall Street and Asian markets. A drop in oil prices is also likely to aid sentiment.

RTTNews | 4j 14min yang lalu

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as the markets extend their gains boosted continued strength among technology stocks. Major currencies in the region also strengthened against the US dollar. Asian markets closed mostly higher on Monday.

RTTNews | 4j 18min yang lalu

Canadian Dollar Rises Against U.S. Dollar

The Canadian dollar advanced against the U.S. dollar in the New York session on Monday.

RTTNews | 5j 40min yang lalu

Hong Kong Stock Market Tipped To Open In The Green

The Hong Kong stock market has moved higher in four straight sessions, collecting more than 560 points or 2.2 percent in that span. The Hang Seng Index now sits just above the 25,800-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

RTTNews | 6j 15min yang lalu

Japanese Market Slightly Higher

The Japanese stock market is trading slightly higher on Tuesday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 50,400 level, with gains in exporters and financial stocks partially offset by weakness in index heavyweights and technology stocks.

RTTNews | 6j 21min yang lalu

EURUSD	1.17719	GBPUSD	1.34846	AUDUSD	0.66655
USDJPY	156.097	USDCAD	1.37407	USDCHF	0.7903