European Shares Poised For Weak Open Ahead Of US Inflation Data

(RTTNews) - European stocks are seen opening broadly lower on Friday as traders brace for February's personal consumption expenditures price index due later in the day.

The U.S. Federal Reserve's preferred readings on consumer price inflation are included in a report on personal income and spending,

Economists polled by Dow Jones see the headline PCE price index reading rising 0.3 percent in February and 2.5 percent from 12 months earlier.

Closer home, Eurozone economic sentiment survey results, Germany's GfK consumer confidence survey data, GDP and retail sales data from the U.K., and the European Central Bank's (ECB) consumer inflation expectations survey results may garner attention later in the day.

The dollar index weakened due to lingering concerns about tariffs slowing U.S. growth and amid caution ahead of the April 2 deadline for the implementation of what U.S. President Donald Trump calls "reciprocal tariffs."

The euro headed for its largest quarterly rise in more than a year, gaining more than 4 percent since the start of 2025 on Ukraine peace hopes and Germany's massive fiscal reform push.

Asian markets were mostly lower this morning, with Hong Kong, Japan and South Korea leading regional losses on the back of deepening geopolitical worries and fears over U.S. tariffs.

Gold extended gains after hitting a new record in the prior session.

Oil prices dipped marginally after rising on Thursday on concerns over potential supply disruption from producers including Iran and Venezuela.

U.S. stocks ended lower overnight as investors remained wary of President Trump's tariff policies.

Economic data offered some relief, with the U.S. economy growing slightly faster than previously estimated in the fourth quarter of 2024, weekly jobless claims slipping last week and pending home sales rebounding in February.

The tech-heavy Nasdaq Composite slid half a percent, the Dow lost 0.4 percent and the S&P 500 gave up 0.3 percent.

European shares ended at their lowest in nearly two weeks on Thursday after the announcement of 25 percent U.S. tariffs on auto imports.

The pan European STOXX 600 declined 0.4 percent. The German DAX fell 0.7 percent, France's CAC 40 dipped half a percent and the U.K.'s FTSE 100 eased 0.3 percent.