country flagالعربية
0

European stocks opened mixed ahead of BoE and ECB decisions

2018-09-13 09:01 am | Resource: News | No Views : 82


 
European major stock markets opened little changed on Thursday, awaiting the Bank of England and European Central Bank monetary policy decisions later in the day. Ahead of the opening bell, where the German Statistical Office announced annual inflation of 2% for August.

On the trade front, hopes for another round of negotiations between Washington and Beijing were renewed after the Wall Street Journal reported that a US invitation had been extended to include its largest trading partner. Yesterday, UK Minister of Finance, Dominic Rapp, said that London would not pay for exit from the EU in the event of a non-dealing scenario.

German inflation rose 2% in August on an annualized basis

Germany's consumer prices grew by 2% in August, compared to the same month last year, according to an update released by the Federal Statistics Office (Destatis) on Thursday. Looking at data on a monthly basis, the CPI rose 0.1% from July. The inflation rate was 2% for the fourth month in a row.

The increase in inflation is mainly due to higher energy product prices. Energy prices rose 6.9% in August from the same period in 2017, most notably heating oil and motor fuel prices, which increased by 29.7% and 12.4% year-on-year, respectively. Food prices rose 2.5%, while commodity prices jumped 2.7%. At the same time, the rise in service prices, on an annualized basis in August, was much smaller, rising by 1.4%.

The Consumer Price Index (CPI) stood at 1.9% in August, compared to the same month last year, confirming the interim result.

French consumer prices rise as forecast in August

Consumer prices in France grew at a steady pace in August, according to final data from the statistical office on Thursday. Consumer price inflation was 2.3 percent, the same rate as in July, in line with initial estimates published on August 31.

Inflation, based on a CPI, remained unchanged at 2.6 percent in August, as estimated. In the month, consumer prices rose 0.5 percent after a slight drop in July. Monthly inflation came in line with initial estimates.

The rebound came from a seasonal increase in the prices of manufactured products by 1.1 percent after summer sales in the metropolitan area. In addition, food price inflation accelerated to 0.3 per cent from 0.1 per cent, following those in food excluding fresh produce.

European stocks open
  • German DAX rose 0.03% above the fixed level, with Commerzbank gaining 2.34%.
  • The FTSE 100 was down 0.03%. The Ocado online supermarket was the worst performer where it fell 1.12%.
  • In Paris, the CAC 40 index lost 0.04%. Kering luxury brand owner lost 0.48%, while Michelin tire factory jumped 2.32%.

The euro fell 0.06% against the US dollar, trading at 1.16194 at 9.19 CET. At the same time, the single European currency was flat against the British pound, reaching 


Other analysis

NASDAQ Technical Analysis 12 November 2018

Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term The NASDAQ 100 faced resistance and selling pressure around the 7210 level to retreat to the 6979 level In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area Accordingly, we expect that the NASDAQ 100 will test level of …

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.