European Shares May Struggle For Direction Ahead Of US Inflation Data

RTTNews | 867天前

(RTTNews) - European stocks may struggle for direction on Wednesday as investors react to mixed comments from Federal Reserve officials on how the central bank should view its policy path.

Ahead of the Federal Open Market Committee meeting next month, Chicago Fed President Austan Goolsbee called for "prudence and patience" in the face of recent banking stress.

On the other hand, New York Fed President John Williams said that Fed officials still have more work to do to bring down prices and the rate path will depend on incoming data.

Investors await a report on U.S. consumer inflation and the minutes of the Federal Reserve's last meeting later in the day for further direction.

Economists expect consumer prices to rise by 0.3 percent in March, while the annual rate of growth is expected to slow to 5.2 percent from 6.0 percent.

Reports on U.S. producer prices, retail sales and industrial production due later in the week could also have a significant impact on the outlook for interest rates.

The U.S. earnings season also remains on investors' radar, with financial giants Citigroup, JPMorgan Chase and Wells Fargo due to report their quarterly results on Friday.

Asian markets were seeing modest gains, the dollar index dipped, and Treasury yields portrayed cautious optimism, while oil traded flat after climbing nearly 2 percent overnight. Gold rose about 1 percent on dollar weakness.

U.S. stocks ended mixed overnight after the International Monetary Fund cut its global growth forecast and warned it was too soon to sound the all-clear from the banking turmoil.

The S&P 500 finished marginally lower and the tech-heavy Nasdaq Composite dropped 0.4 percent, while the Dow gained 0.3 percent.

European stocks rose on Tuesday as traders returned to their desks following the long Easter holiday weekend.

The pan-European STOXX 600 climbed 0.6 percent as soft inflation data from China stoked optimism about additional stimulus.

The German DAX rose 0.4 percent, France's CAC 40 index climbed 0.9 percent and the U.K.'s FTSE 100 added 0.6 percent.

Japan Stock Market May See Renewed Support

The Japan stock market on Tuesday halted the two-day winning streak in which it had advanced almost 200 points or 0.5 percent. The Nikkei 225 now rests just beneath the 42,400-point plateau although it's expected to open in the green on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead. The Nikkei finished sharply lower on Tuesday following losses from the financial shares, technology stocks and automobile producers. For the day, the index slumped 413.42 points or 0.97 percent to finish at 42,394.40 after trading between 42,137.62 and 42,703.27. Among the actives, Nissan Motor plummeted 6.25 percent, while Mazda Motor added 0.40 percent, Toyota Motor retreated 1.41 percent, Honda Motor tumbled 1.71 percent, Softbank Group dropped 0.91 percent, Mitsubishi UFJ Financial sank 0.72 percent, Mizuho Financial shed 0.45 percent, Sumitomo Mitsui Financial skidded 1.01 percent, Mitsubishi Electric tumbled 1.91 percent, Sony Group declined 1.87 percent, Panasonic Holdings slumped 1.11 percent and Hitachi contracted 1.63 percent.

RTTNews | 10分钟前

Rebound Tipped For South Korea Stock Market

The South Korea stock market on Tuesday ended the three-day winning streak in which it had improved almost 80 points or 2.6 percent. The KOSPI now sits just shy of the 3,180-point plateau although it may reverse those losses on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | 25分钟前

Australia Construction Work Data Due On Wednesday

Australia will on Wednesday see Q2 numbers for construction work done, highlighting a light day for Asia-Pacific economic activity.

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U.S. Dollar Falls Against Majors

The U.S. dollar dropped against its major counterparts in the New York session on Tuesday.

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TSX Modestly Higher As Financials, Mining Stocks Move Up

Despite concerns about global trade, and political uncertainty in Europe, the Canadian market is modestly higher Tuesday afternoon, supported by gains in materials, industrials and financials sectors.

RTTNews | 4小时59分钟前

Swiss Market Settles Weak

After opening with a big negative gap Tuesday morning, the Swiss market gradually recovered some lost ground, and even managed a brief spell in positive territory midway through the session, but failed to sustain momentum and finally ended the day's session in the red.

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European Stocks Close Lower On Political Concerns, Tariff Worries

European stocks closed weak on Tuesday, weighed down by political uncertainty in France, and lingering concerns about tariffs and their impact on global economic growth.

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U.S. Consumer Confidence Index Edges Lower In August

A report released by the Conference Board on Tuesday showing a modest deterioration by consumer confidence in the U.S. in the month of August. The Conference Board said its consumer confidence index dipped to 97.4 in August from an upwardly revised 98.7 in July.

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EURUSD	1.16415	GBPUSD	1.3479	AUDUSD	0.64967
USDJPY	147.406	USDCAD	1.38341	USDCHF	0.80356