European markets weaken ahead of tomorrow's Bernanke
FXstreet.com (Barcelona) - The European markets opened in the knowledge that German Chancellor Merkel's trip to China extracted comments that the Eurozone has the "absolute political will" to stabilize the euro, while the Chinese Premier Wen will keep on buying European bonds. However, Thursday is a "down day" for European equities as Fed's Beige Book gave less dovish signals than the FOMC minutes. The Fed's Bernanke speech at Jackson Hole is tomorrow.
The French CAC 40 is down by -0.40% to 3.391, while the German DAX 30 drops -0.62% to 6.956, the Spanish IBEX 35 falls 0.90% to 7,228 and the Italian FTSE MIB sheds -0.70% to 14,840.
In the EMU, with the exception of better business climate from -1.27 to -1.21, against expectations of -1.30, figures came in disappointing. Economic sentiment dropped to 86.1 (from 87.9), services sentiment weakened to -10.8 (from -7.4) and industrial confidence eased to -15.3 (from -15.1). The important EMU consumer confidence fell from -21.5 to -24.6, worse than the -23.0 consensus.
Meanwhile in Italy, the government sold 10-year bonds today at 5.82%, a lower yield than the previous auction's 5.96%. The preliminary release of the Spanish Harmonized Index of Consumer Prices indicates rising inflation from 2.2% to 2.7% in August.
M4 money supply (MoM) grew by 0.5% in the UK in July, more than the 0.4% consensus and following the -1.6% drop in June. The annualized data improved from -5.2% to -4.6%. UK mortgage approvals rose from 44.124K to 47.312K, more than the 47.000K consensus. The British FTSE 100 loses -0.27%, at 5,725.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower open between -0.35% and -0.40% ahead of the US jobless claims, consumer expenditure and income.
The French CAC 40 is down by -0.40% to 3.391, while the German DAX 30 drops -0.62% to 6.956, the Spanish IBEX 35 falls 0.90% to 7,228 and the Italian FTSE MIB sheds -0.70% to 14,840.
In the EMU, with the exception of better business climate from -1.27 to -1.21, against expectations of -1.30, figures came in disappointing. Economic sentiment dropped to 86.1 (from 87.9), services sentiment weakened to -10.8 (from -7.4) and industrial confidence eased to -15.3 (from -15.1). The important EMU consumer confidence fell from -21.5 to -24.6, worse than the -23.0 consensus.
Meanwhile in Italy, the government sold 10-year bonds today at 5.82%, a lower yield than the previous auction's 5.96%. The preliminary release of the Spanish Harmonized Index of Consumer Prices indicates rising inflation from 2.2% to 2.7% in August.
M4 money supply (MoM) grew by 0.5% in the UK in July, more than the 0.4% consensus and following the -1.6% drop in June. The annualized data improved from -5.2% to -4.6%. UK mortgage approvals rose from 44.124K to 47.312K, more than the 47.000K consensus. The British FTSE 100 loses -0.27%, at 5,725.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower open between -0.35% and -0.40% ahead of the US jobless claims, consumer expenditure and income.
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