European stocks opened with careful notes

European stocks on Friday are likely to open in a cautious note after strong US economic data has pushed up dollar and bond yields.

Fed Governor John Williams said it makes sense for Fed officials to start discussing policy coordination options.

Asian market Gold traded near a two-week low, seeing the worst decline since February, while oil fell from a two-year or more high due to concerns over the gradual rollout of coronavirus immunization around the world.

Eurozone retail sales and German construction PMI figures for April will be released later in the session.

ECB President Christine Lagarde and Fed Chair Powell will speak, and monetary policy debates can influence the mood of the market.

In the United States, reactions to monthly employment statistics are likely to drive trade and can have a significant impact on monetary policy outlook.

Economists predict that the report shows a surge in employment of 664,000 in May after an increase in employment of 266,000 in April. The unemployment rate is expected to drop from 6.1% to 5.9%.

US stocks closed at lows last night, with private salary, unemployment insurance claims and service sector activity data raising new concerns about the outlook for monetary policy. Investors have also pondered new reports that Mr Biden may accept tax cuts.

The Dow fell 0.1% and the S & P 500 fell 0.4%, while the technology-savvy Nasdaq Composite fell 1%.

European stocks ended Thursday’s session with a wide decline as a bright eurozone business Growth data fueled concerns about rising inflation.

The Pan-European Stoxx 600 was 0.1% cheaper. France’s CAC 40 index fell 0.2%, the UK’s FTSE 100 fell 0.6%, while Germany’s DAX rose 0.2%.

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European stocks opened with careful notes

Source link European stocks opened with careful notes

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