European stocks market Positive moves are expected on Wednesday as US retail sales are strong and unemployment in the region is declining. However, the Fed’s positive comments on lower inflation can also affect emotions.
On Tuesday, the European market recorded a strong rise against the backdrop of low unemployment rates from France and the United Kingdom. Germany’s DAX led the rally with a 1.59 percent rise. France’s CAC 40 added 1.30 percent. The Pan-European STOXX 600 was added 1.22%. The UK FTSE 100 rose 0.72 percent. Switzerland’s SMI rose 0.50 percent.
Wall Street closed on Tuesday with a sharp rise as strong retail sales helped ease concerns over economic growth. Data released on Tuesday showed that US retail sales in April 2022 were up 0.9% month-on-month, in line with market expectations. The Nasdaq 100 index surged 2.6% to close at 12,564.10, and the Dow Jones Industrial Average rose 1.34% to close at 32,654.59.
FTSE 100 futures (June) are down 0.07%. DAX futures (June) are trading 0.16% higher.
The US dollar index, which measures the strength of the dollar against a basket of six currencies, is currently flat at 103.36. The EUR / USD pair fell 0.12 percent overnight to 1.0534 and the GBP / USD pair fell 0.04 percent to 1.2485.
Gold futures on the June settlement fell 0.6%, trading at $ 1,809 per troy ounce, but strong retail sales from the U.S. eased the federal’s aggressive rate hike stance against $ 1,819 on Tuesday. Excluded.
Demand from China will soon be in the market.
US equity futures are showing a negative trend, with the US 30 (DJIA) index down 0.19% and the US 500 (S & P 500) down 0.27%.
Despite the strong rise on Tuesday’s Wall Street, the Asian market is trading mixed. New Zealand’s NZX50 is trading 1.08 percent higher. Australia’s S & P ASX 200 was up 0.79%. The Nikkei 225 in Japan is trading 0.75% higher. India’s Nifty 50 is 0.50 percent higher. Meanwhile, South Korea’s Kospi is up 0.19%. However, China’s Shanghai Composite fell 0.18 percent. The Hang Seng Index in Hong Kong is down about 0.28%.
Inflation forecasts for April are expected by the UK in the release of economic data from the region. UK annual inflation is expected to rise from March’s 30-year high of 7% to 9.1%.
The final inflation rate in April in the euro area is expected to be 7.5%.
The major revenue updates scheduled for Wednesday from this region are Experian, Aviva, Burberry Group, and British Land Company.
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European stocks saw a strong opening
Source link European stocks saw a strong opening