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DAILY MARKET OVERVIEW – Europe to open higher as markets discount September rate hike…

Top 3 Pre-Market Headlines for September 7, 2016

  • Europe to open higher as markets discount September rate hike…

  • German Industrial Production plunges unexpectedly …

  • Asia stocks hit 1-year high as disappointing U.S. data subdues Fed hike talk…

 

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Europe to open higher as markets discount September rate hike…

European stocks are expected to open higher today after the release of weak U.S. data lowered expectations of the Federal Reserve raising interest rates this month.

The German DAX is expected to open 13 points at 10,700, the FTSE index 16 points higher at 6,842, and the French CAC up 9 points at 4,539.

The disappointing nonfarm payroll data last Friday, accompanied by the slow growth in the services sector, seems to hinder any chance of a rate hike when the Federal Open Market Committee (FOMC) meets later in September.

 

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German Industrial Production plunges unexpectedly …

It has been over two years since the German Industrial Production fell to such levels, as July manufacturing struggled under a sluggish global trade. Production fell 1.5% from the previous month even when adjusted for seasonal effects. Last month, it rose a revised 1.1 percent as announced by the Economy Ministry in Berlin on Wednesday. So far it was the worst reading since August 2014.

 

asian markets fopsdk

Asia stocks hit 1-year high as disappointing U.S. data subdues Fed hike talk…

The dollar fell and Asian stocks rose to one-year highs on Wednesday all due to the unexpected weak U.S. services sector activity quashed any chances of an interest rate hike by the Federal Reserve this month.

Japan’s Nikkei slid 0.4%, however, as the yen gained sharply against the US dollar, adding more pressure on exports in this export driven economy.

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This post first appeared on Bull Markets Blog — Fearless Trading, please read the originial post: here

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DAILY MARKET OVERVIEW – Europe to open higher as markets discount September rate hike…

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