European Shares Seen Higher In Cautious Trade

RTTNews | 4天前

(RTTNews) - European stocks are seen opening a tad higher on Tuesday as U.S.-China trade negotiations continue in Stockholm for a second day.

Top economic officials from both nations held over five hours of negotiations on Monday to resolve longstanding economic disputes and lay the groundwork ahead of a leaders' summit in the autumn.

"I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest!" U.S. President Donald Trump said on Truth Social.

Days before the August 1 deadline, Trump also said that countries refusing to negotiate separate trade deals could face tariffs ranging from 15 percent to 20 percent, well above the 10 percent rate set in April.

U.S. stock futures climbed as investors braced for key economic data, central bank meetings and tech earnings.

Key inflation and labor market data will be in the spotlight this week, with the July reading of the personal consumption expenditures (PCE) index due to be released on Thursday, followed by the crucial jobs report on Friday.

The Federal Reserve is seen holding rates steady between 4.25 percent and 4.50 percent on Wednesday, with investors looking for hints on whether a September cut is likely.

The Bank of Japan is set to hold off raising interest rates on Thursday but may offer a less gloomy view on the outlook.

On the earnings front, Meta Platforms and Microsoft will unveil their earnings results on Wednesday, followed by Amazon and Apple on Thursday.

Asian markets were subdued, with benchmark indexes in Japan and Hong Kong falling nearly 1 percent after several European leaders voiced concerns over the EU-U.S. trade deal, calling it 'lopsided' and 'unsustainable'.

The dollar index held firm amid trade optimism following the U.S.-EU trade deal. Gold held steady after declining notably on Monday.

Oil prices were marginally lower after rising 2 percent on Monday as U.S. President Trump pushed for Russia to reach a swift truce with Ukraine or face potential economic penalties.

Overnight, U.S. stocks ended mixed as traders' enthusiasm for the U.S.-EU deal was muted.

The tech-heavy Nasdaq Composite rose 0.3 percent and the S&P 500 edged up marginally to reach new record closing highs while the narrower Dow slid 0.1 percent.

European stocks ended mostly lower on Monday as the EU-U.S. trade deal met with gloomy reactions from many European leaders, with Germany and France slamming the draft trade agreement as unequal and damaging.

The pan European STOXX 600 eased 0.2 percent. The German DAX lost 1 percent while the U.K.'s FTSE 100 and France's CAC 40 both fell by 0.4 percent.

U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as weaker-than-expected jobs data for July strengthened expectations of a Fed rate cut in September.

RTTNews | 1天前

European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment

European stocks tumbled on Friday, recording one of their worst sessions in several months, as sweeping fresh tariffs announced by U.S. President Donald Trump raised fears of a global economic slowdown, prompting investors to press selling across the board.

RTTNews | 1天前

Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries

The Canadian market got off to a weak start Friday morning and slipped deeper into the red subsequently, as U.S. President Donald Trump's sweeping tariff announcement rendered the mood bearish.

RTTNews | 1天前

U.S. Construction Spending Unexpectedly Sees Further Downside In June

The Commerce Department released a report on Friday unexpectedly showing a continued decrease by U.S. construction spending in the month of June. The report said construction spending fell by 0.4 percent to an annual rate of $2.136 trillion in June after sliding by 0.5 percent to a revised rate of $2.144 trillion in May.

RTTNews | 1天前

U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved marginally less than previously estimated in the month of July. The University of Michigan said its consumer sentiment index for July was downwardly revised to 61.7 from a preliminary reading of 61.8. Economists had expected the index to be upwardly revised to 62.0.

RTTNews | 1天前

U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July

Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of July, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI edged down to 48.0 in July after inching up to 49.0 in June with a reading below 50 indicating contraction.

RTTNews | 1天前

Eurozone Inflation Steady At 2% ECB Target

Euro area consumer price inflation was unchanged at the European Central Bank's 2 percent target in July, easing the pressure for more easing. The harmonized index of consumer prices increased 2.0 percent year-on-year in July, the same rate of increase as seen in June. Inflation was forecast to ease marginally to 1.9 percent.

RTTNews | 1天前

U.S. Job Growth Misses Estimates In July, Previous Months' Numbers Revised Sharply Lower

Job growth in the U.S. fell well short of economist estimates in the month of July, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment rose by 73,000 jobs in July, while economists had expected employment to jump by 110,000 jobs.

RTTNews | 1天前

EURUSD	1.15956	GBPUSD	1.32834	AUDUSD	0.64735
USDJPY	147.381	USDCAD	1.37779	USDCHF	0.8035

Advertisement

European Shares Seen Higher In Cautious Trade