European Shares Poised For Sluggish Start

RTTNews | 668 дней спустя
European Shares Poised For Sluggish Start

(RTTNews) - European stocks are likely to open lower on Friday after an initial rally on Wall Street eventually fizzled into the close overnight.

While the U.S. CPI data reinforced market expectations for a pause in rate hikes at the September meeting, it is feared that sticky core inflation may prompt the Fed to resume raising rates in November.

San Francisco Federal Reserve Bank President Mary Daly on Thursday said that inflation data is moving in the right direction, but the U.S. central bank has 'more work to do' to get inflation back down to its 2 percent target.

Gold was little changed, the dollar held steady, and Treasury yields extended gains ahead of key data on U.S. producer prices and consumer sentiment later in the day.

The University of Michigan's preliminary reading on consumer sentiment includes readings on inflation expectations.

The European economic calendar remains light, with quarterly national accounts from the U.K. and final consumer price figures from France due later in the day.

Asian stocks were trading mostly lower, with Chinese and Hong Kong markets leading regional losses on growth concerns.

Oil prices extended overnight losses on concerns about the outlook for fuel demand in China.

U.S. stocks ended on a flat note overnight, giving up early gains after data showed inflation rose less than expected in July and weekly jobless claims rose more than expected to the highest level in a month, raising hopes that the Fed was close to end its tightening cycle and could start cutting rates early next year.

The consumer price index rose to an annual 3.2 percent in July from 3.0 percent in June and versus estimates of 3.3 percent. Annual core inflation ticked down to 4.7 percent from June's 4.8 percent.

The Dow edged up 0.2 percent, the tech-heavy Nasdaq Composite inched up 0.1 percent and the S&P 500 finished marginally higher.

European stocks closed higher on Thursday on the back of strong corporate earnings and encouraging U.S. inflation data.

The pan European STOXX 600 jumped 0.8 percent. The German DAX gained 0.9 percent, France's CAC 40 rallied 1.5 percent and the U.K.'s FTSE 100 added 0.4 percent.

read more
Asian Shares Mostly Higher On Sino-US Trade Talk Optimism

Asian Shares Mostly Higher On Sino-US Trade Talk Optimism

Asian stocks rose broadly on Monday amid hopes that another round of U.S.-China trade talks that will take place in London later today could help ease trade tensions between the two superpowers.
RTTNews | 26 минут назад
Yen Rises After Japan GDP Data

Yen Rises After Japan GDP Data

The Japanese yen strengthened against other major currencies in the Asian session on Monday, after data showed that an upward revision to Japan's first quarter GDP supporting the interest rate hike expectations.
RTTNews | 1ч 27мин назад
China Consumer Prices Fall For Fourth Month; Exports Rise

China Consumer Prices Fall For Fourth Month; Exports Rise

China's consumer prices declined for the fourth consecutive month and the decline in producer prices worsened in May, deepening deflation worries among policymakers as domestic demand remained weak despite taking enormous measures to boost consumption. Another report showed an increase in exports in May despite a sharp decline in shipments to the US due to trade tariff uncertainties.
RTTNews | 2ч 0мин назад
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Monday.
RTTNews | 2ч 30мин назад
Australian Dollar Rises As Traders Focus On US-China Trade Talks

Australian Dollar Rises As Traders Focus On US-China Trade Talks

The Australian dollar strengthened against other major currencies in the Asian session on Monday, as traders will be closely watching the US-China trade discussions because they will impact the next move in the Australian Dollar (AUD).
RTTNews | 2ч 58мин назад
European Shares Likely To Open On Soft Note

European Shares Likely To Open On Soft Note

European stocks are seen opening broadly lower on Monday as investors react to Trump-Elon Musk feud over the president's tax-and-spending plan and await the high-level U.S.-China trade talks.
RTTNews | 3ч 27мин назад
Sensex, Nifty Open Higher On Strong US Jobs Data

Sensex, Nifty Open Higher On Strong US Jobs Data

Indian shares traded higher on Monday, with underlying sentiment supported by firm cues from global markets after the release of better-than-expected monthly jobs report from the U.S.
RTTNews | 4ч 55мин назад