European stocks finished lower for the third consecutive day on disappointing US earnings and weak Chinese economic data. Euro gained about 0.8% against the dollar. The Stoxx Europe 600 index fell 0.7%. Market sentiment was not helped by economic data showing industrial output in euro-zone fell 0.5% in August, in line with expectations. No important economic data are expected today in euro-zone.
Nikkei rose 1.2% today as market sentiment was bolstered by expectations the Federal Reserve will delay interest rate hike after weak economic data indicated slowing in the economy. Investors bought defensive shares such as pharmaceuticals.
Brent oil prices are edging lower today after closing marginally lower on Wednesday ahead of US weekly inventory data. Today at 16:00 CET Crude Oil Inventories will be released by US Energy Information Administration. It is expected to show an increase in domestic crude oil supplies. Market participants are also waiting to see whether US domestic production continues to grow, which will be bearish for oil.
Gold futures prices are rising today after recording highest close since June 22 on Wednesday on back of weaker dollar as investors bet the Fed would continue to delay an interest-rate hike.
This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.
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