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European Economic News Preview: Germany Ifo Business Confidence Due
(RTTNews) - Business confidence from Germany is the only major economic report due on Monday, headlining a light day for the European economic news.
At 3.00 am ET, Spain's statistical office INE is set to publish producer prices for May. Producer prices are forecast to fall again by 4.5 percent on a yearly basis in May.
At 4.00 am ET, Germany's Ifo business confidence survey results are due. Economists expect the business sentiment index to fall to 90.7 in June from 91.7 in May.
In the meantime, unemployment data is due from Poland. The jobless rate is forecast to fall to 5.1 percent in May from 5.2 percent in April.
At 7.00 am ET, Germany's central bank is scheduled to issue monthly report.
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Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, as some weaker than expected U.S. private sector job growth in the month of August bolstered bets the US Fed will lower interest rates later this month. The markets are pricing in a September rate cut and anticipating at least two reductions this year.
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Sensex, Nifty Seen Higher At Open On Firm Global Cues
Indian shares are likely to open higher on Friday, tracking firm cues from global markets and falling oil prices on oversupply concerns ahead of an OPEC+ meeting this weekend.
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