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DAILY MARKET OVERVIEW – E.U stock futures edge lower…

Top 3 Pre- Market Headlines – July 29, 2016

  • E.U stock futures edge lower…

  • Yen jumps after BOJ easing falls short…

  • Goldman supports that oil’s rebalancing remains fragile…

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E.U stock futures edge lower…

Most major E.U. futures headed lower after a wobbly session yesterday. With key reports and announcements expected today, perhaps this signals another rocky start for the E.U. markets. Indicatively, Germany’s DAX futures lost 0.2 percent to last trade at 10351.0 while France’s CAC 40 futures traded at 4446.7, having weakened 0.1 percent as of 6:30 GMT. U.K.’s FTSE 100 lost 0.2 percent while Euro Stoxx 50 lost 0.17 percent to last trade at 2982.0 as of 6:40 GMT.

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Yen jumps after BOJ easing falls short on expectations…

The safe-haven currency jumped against the dollar today after the Bank of Japan’s modest monetary policy easing disappointed investors who had been hoping for more radical stimulus measures. The BOJ announced a modest increase in purchases of ETFs, but maintained its base money target at 80 trillion yen as well as the pace of purchases for other assets. More importantly however, the BOJ also kept negative interest rates unchanged at minus 0.1 percent. The greenback was last seen trading lower at 10.3.35 JPY as of 6:40 GMT. Japanese stock Markets also headed higher for the day.

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Goldman supports that oil’s rebalancing remains fragile…

Oil’s recovering fundamentals remain fragile and the U.S. dollar is probably the most important and determining factor of driving lower prices recently, Goldman Sachs stated in a note this week. The Wall Street bank, which turned bullish on oil earlier this year, said oil prices are expected remain in a $45 a barrel to $50 a barrel trading range through mid-2017.

In today’s energy related commodities oil prices continued to plunge with West Texas Intermediate losing an additional 0.5 percent to last trade at $40.92 per barrel while Brent lost as much as 0.6 percent at $42.46 as of 6:45 GMT.

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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 – E.U stock futures edge lower…

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