European Economic News Preview: Eurozone GDP Data Due

RTTNews | 683 days ago

(RTTNews) - Flash quarterly national accounts from the euro area and major European economies are due on Friday, headlining a busy day for the European economic news.

At 1.30 am ET, France's statistical office Insee is scheduled to issue flash GDP data for the first quarter. The economy is forecast to grow 0.2 percent sequentially after rising 0.1 percent in the fourth quarter.

At 2.00 am ET, Destatis is set to publish Germany's import prices for March. Economists expect import prices to fall 3.6 percent annually after rising 2.8 percent in February.

In the meantime, Sweden's retail sales and household lending data is due. At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss retail sales for March.

At 2.45 am ET, flash consumer and producer price figures are due from France. Consumer price inflation is seen unchanged at 5.7 percent in April.

At 3.00 am ET, flash quarterly GDP and flash consumer prices are due from Spain. The economy is expected to expand 0.3 percent sequentially in the first quarter after rising 0.2 percent in the fourth quarter.

At 3.55 am ET, the Federal Labor Agency releases Germany's unemployment data. The jobless rate is seen unchanged at 5.6 percent in April.

At 4.00 am ET, Germany's flash GDP data is due. The largest euro area economy is forecast to expand 0.2 percent sequentially in the first quarter, in contrast to the 0.4 percent fall in the fourth quarter.

Also, flash GDP figures are due from Italy. The economy is forecast to grow 0.2 percent on quarter, reversing a 0.1 percent fall in the preceding period.

In the meantime, inflation figures from Poland and unemployment from Norway are due. At 5.00 am ET, Eurostat is set to issue euro area flash quarterly national accounts. Economists expect the currency bloc to grow 0.2 percent in the first quarter after staying flat in the prior period.

Half an hour later, Bank of Russia announces its monetary policy decision.

At 8.00 am ET, Destatis publishes Germany's flash consumer and harmonized consumer prices for April. Consumer price inflation is seen easing to 7.3 percent from 7.4 percent in March.

Asian Markets A Sea Of Red

Asian stock markets are a sea of red on Tuesday, following the broadly negative cues from Wall Street overnight, amid increasing worries the U.S. is headed for a recession and concerns over the health of the world economy following the likely impact of President Donald Trump's tariffs and trade policies. Asian markets closed mostly higher on Monday.

RTTNews | 4h 5min ago

Australian Market Trims Early Losses In Mid-market

The Australian stock market is trimming its early losses in mid-market trading on Tuesday, but extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 7,900 level, with weakness is mining and technology stocks partially offset by gains in energy and financial stocks.

RTTNews | 4h 37min ago

Sensex, Nifty Set To Fall In Global Rout

Indian shares may follow global peers lower on Tuesday amid growing concerns about a potential U.S. recession.

RTTNews | 4h 51min ago

Lower Open Called For Thai Stock Market

The Thai stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day slide in which it had tumbled almost 40 points or 3.2 percent. The Stock Exchange of Thailand now sits just above the 1,175-point plateau and it figures to see continued consolidation on Tuesday.

RTTNews | 5h 22min ago

Losses May Accelerate For Indonesia Stock Market

The Indonesia stock market on Monday ended the three-day winning streak in which it had surged more than 350 points or 5.4 percent. The Jakarta Composite Index now sits just beneath the 6,600-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.

RTTNews | 5h 52min ago

Japanese Market Sharply Lower, Down 2.6%

The Japanese stock market is trading sharply lower on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling well below the 36,100 level, with weakness across most sectors led by index heavyweights, exporters and technology stocks.

RTTNews | 5h 55min ago

Hong Kong Stock Market May Take Further Damage On Tuesday

The Hong Kong stock market has moved lower in consecutive trading days, stumbling almost 600 points or 2.6 percent along the way. The Hang Seng Index now rests just above the 23,780-point plateau and it figures to open under pressure again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The Hang Seng finished sharply lower on Monday following losses among the financial shares, property stocks and technology companies. For the day, the index plunged 447/81 points or 1.85 percent to finish at 23,783.49 after trading between 23,632.42 and 24,292.80. Among the actives, Alibaba Group stumbled 3.93 percent, while Alibaba Health Info surged 3.25 percent, ANTA Sports slumped 2.09 percent, China Life Insurance and CITIC both fell 0.63 percent, China Mengniu Dairy slid 0.42 percent, China Resources Land retreated 2.63 percent, CNOOC advanced 0.91 percent, CSPC Pharmaceutical sank 1.24 percent, Galaxy Entertainment shed 1.23 percent, Hang Lung Properties added 0.45 percent, Henderson Land eased 0.22 percent, Hong Kong & China Gas rose 0.32 percent, Industrial and Commercial Bank of China lost 0.89 percent, JD.com plunged 4.59 percent, Lenovo dropped 1.58 percent, Li Auto dipped 0.36 percent, Li Ning tanked 4.50 percent, Meituan plummeted 4.69 percent, New World Development soared 2.83 percent, Nongfu Spring declined 2.41 percent, Techtronic Industries skidded 1.65 percent, Xiaomi Corporation tumbled 2.76 percent and WuXi Biologics and Haier Smart Home were unchanged.

RTTNews | 6h 7min ago

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,900 level, with weakness across most sectors led by mining and technology stocks.

RTTNews | 6h 19min ago

EURUSD	1.0854	GBPUSD	1.28892	AUDUSD	0.62708
USDJPY	147.106	USDCAD	1.4438	USDCHF	0.87938

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European Economic News Preview: Eurozone GDP Data Due