European Shares Poised For Steady Open On Fed Rate Cut Optimism

RTTNews | 112日前
European Shares Poised For Steady Open On Fed Rate Cut Optimism

(RTTNews) - European stocks look set to open on a positive note Thursday as traders eye September for the Federal Reserve's first rate cut.

"Our undertaking is to make decisions when and as they need to be made, based on the data, the incoming data, the evolving outlook and the balance of risks, and not in consideration of other factors, and that would include political factors," Fed Chair Jerome Powell said in a hearing before the House Financial Services Committee.

Elsewhere, the European Central Bank could also move to cut interest rates in September while the chances of a Bank of England rate cut in August remains an "open question", according to Bank of England Chief Economist Huw Pill.

Asian markets traded mostly higher ahead of a key Communist Party meeting in China next week, with top officials expected to discuss ways to boost economic growth in the face of an ongoing property crisis and geopolitical issues.

There are also expectations that a U.S. government report due later in the day will show inflation continued to moderate in June.

Gold inched up on falling yields amid rate cut bets, while oil extended overnight gains following OPEC's strong oil demand forecast.

The dollar lost ground with upcoming U.S. consumer price index inflation data squarely in focus.

Economists expect a 0.1 percent rise in CPI month-over-month and a 3.1 percent gain year-on-year.

Friday's release of wholesale inflation numbers and the U.S. earnings season also remain on investors' radar. A number of big financial institutions will be reporting their quarterly numbers starting on Friday.

Closer home, GDP and foreign trade data from the U.K. as well as final inflation figures from Germany are awaited later in the day.

U.S. stocks rose sharply overnight as investors braced for key economic data and corporate earnings releases.

The S&P 500 rallied 1 percent to close above 5,600 for the first time ever and the tech-heavy Nasdaq Composite surged 1.2 percent to finish higher for the seventh consecutive session as Taiwan Semiconductor Manufacturing easily beat expectations for June sales. The Dow climbed 1.1 percent to end just shy of its own record.

European stocks rose for the first time in three days on Wednesday after Powell's comments gave scant clues on rate cuts.

The pan European STOXX 600 advanced 0.9 percent. The German DAX and France's CAC 40 both jumped by 0.9 percent while the U.K.'s FTSE 100 added 0.7 percent.

read more
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 4時6分前
European Economic News Preview: Eurozone Inflation, Unemployment Data Due

European Economic News Preview: Eurozone Inflation, Unemployment Data Due

Inflation and unemployment from the euro area and retail sales from Germany are the top economic news due on Thursday. At 3.00 am ET, Destatis is scheduled to issue Germany's retail sales and import prices for September. Economists forecast retail sales to fall 0.7 percent on month in September.
RTTNews | 4時32分前
China Manufacturing Activity Expands For First Time In 6 Months

China Manufacturing Activity Expands For First Time In 6 Months

China's manufacturing activity expanded for the first time in six months in October, underpinned by strong domestic demand, official survey data revealed Thursday. The official manufacturing Purchasing Managers' Index rose to 50.1 in October from 49.8 in September, survey data from the National Bureau of Statistics showed. The score was seen unchanged at 49.8.
RTTNews | 4時45分前
Bank Of Japan Keeps Key Rate Unchanged

Bank Of Japan Keeps Key Rate Unchanged

The Bank of Japan left its key interest rate unchanged as widely expected on Thursday and retained a cautious approach as political instability and looming US presidential election added concerns about economic outlook. In a unanimous vote, the Policy Board decided to maintain the uncollateralized overnight call rate to remain at around 0.25 percent. This was the highest since late 2008.
RTTNews | 5時23分前
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, as traders are cautious and remain on the sidelines ahead of key U.S. economic data due this week and next week's US presidential election. They also continue to assess the ongoing geopolitical tensions in the Middle East. Asian Markets closed mostly lower on Wednesday.
RTTNews | 8時29分前
Japanese Market Modestly Lower

Japanese Market Modestly Lower

The Japanese stock market is notably lower on Thursday, Giving up some of the gains in the previous three sessions, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 39,100 level, with weakness in index heavyweights, exporters and technology stocks as traders are cautious ahead of the Bank of Japan's monetary policy decision.
RTTNews | 9時10分前