European Shares Struggle For Direction Amid Fed Rate-path Uncertainty
(RTTNews) - French stocks struggled for direction on Wednesday as investors braced for a hawkish message from the Federal Reserve at this week's Jackson Hole symposium.
Lingering worries over U.S. rate hike plans weighed on sentiment after Minneapolis Federal Reserve Bank President Neel Kashkari said the Fed needs to be more aggressive to control inflation.
He expects the Fed to need to lift its policy rate, now at 2.25-2.5 percent, another two full percentage points by the end of next year.
Investors also await minutes of the ECB's last policy meeting, which might provide additional hawkish signals.
The benchmark CAC 40 was marginally lower at 6,356 after closing 0.3 percent lower the previous day.
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Yen Falls As Traders Doubt On BoJ Rate Hike
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Yen Falls Against Majors
The Japanese yen weakened against major currencies in the Asian session on Friday.
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Asian Markets Mixed Amid Cautious Trades
Asian stock markets are trading mixed on Friday, following the mixed cues from European markets and lack of cues from Wall Street overnight as they were closed, as traders are cautious ahead of the release of the closely watched US monthly jobs later in the day, which will potentially provide additional clarity about the strength of the labor market and the outlook for interest rate cuts.
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Australian Market Maintains Early Losses In Mid-market
The Australian stock market is maintain its early losses in mid-market trading on Friday, also adding to the losses in the previous session, following the mixed cues from European markets and lack of cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,300 level, with weakness in financial, energy and technology stocks partially offset by gains in mining stocks.
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