1 Aug 2013
Lock Stock: Europe follows Asia higher into Open ahead of key CB events
FXstreet.com (Barcelona) - European stocks have opened higher having been lead by their Asian counterparts after a busy day of Central Bank of Economic Data action around the world.
Despite opening lower yesterday, European stocks were supported by better than expected German employment data, with the Eurostoxx 50 closing at 2768.18, the DAX at 8275.97 and the FTSE 100 6621.06. During the US session, US stocks closed mildly lower despite better than expected annualised Q2 US GDP numbers and the FOMC decision to hold rates and omit any tapering talk from its statement. Perhaps a better than expected ADP employment print kept bulls in check. Nevertheless, the DJIA closed down -0.14% at 15,499.54, S&P 500 down -0.01% at 1,685.73, but the NASDAQ stayed in the green, up 0.27% at 3,626.37. In Asia, better than expected NBS Chinese PMI data picked up the markets spirits, leading Asian stocks and European futures higher, with the NIKKEI closing up +2.47% at 14,005.77, the HANG SENG up 0.80% at 22,058.33, and the SSE 300 up 2.35% at 2,244.66.
PMIs and Central Banks to dictate sentiment ahead
Currently, European stocks have opened higher, lead by futures, with the Eurostoxx 50 up 0.43% at 2780.16, the DAX up 0.56% at 8322.33 and the FTSE 100 up 0.41% at 6648.07. Up shortly in the European calendar we have Italian, French, German, EU, Greek and UK Manufacturing PMIs, before the headline events of the BoE and ECB rate decisions and statements at 11:00 GMT, 11:45 GMT and 12:30 GMT respectively. Currently US futures are up, with the DJIA up 0.55% at 15,518, the S&P 500 up 0.60% at 1690.60 and the NASDAQ up 0.58% at 3100.75.
Despite opening lower yesterday, European stocks were supported by better than expected German employment data, with the Eurostoxx 50 closing at 2768.18, the DAX at 8275.97 and the FTSE 100 6621.06. During the US session, US stocks closed mildly lower despite better than expected annualised Q2 US GDP numbers and the FOMC decision to hold rates and omit any tapering talk from its statement. Perhaps a better than expected ADP employment print kept bulls in check. Nevertheless, the DJIA closed down -0.14% at 15,499.54, S&P 500 down -0.01% at 1,685.73, but the NASDAQ stayed in the green, up 0.27% at 3,626.37. In Asia, better than expected NBS Chinese PMI data picked up the markets spirits, leading Asian stocks and European futures higher, with the NIKKEI closing up +2.47% at 14,005.77, the HANG SENG up 0.80% at 22,058.33, and the SSE 300 up 2.35% at 2,244.66.
PMIs and Central Banks to dictate sentiment ahead
Currently, European stocks have opened higher, lead by futures, with the Eurostoxx 50 up 0.43% at 2780.16, the DAX up 0.56% at 8322.33 and the FTSE 100 up 0.41% at 6648.07. Up shortly in the European calendar we have Italian, French, German, EU, Greek and UK Manufacturing PMIs, before the headline events of the BoE and ECB rate decisions and statements at 11:00 GMT, 11:45 GMT and 12:30 GMT respectively. Currently US futures are up, with the DJIA up 0.55% at 15,518, the S&P 500 up 0.60% at 1690.60 and the NASDAQ up 0.58% at 3100.75.