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DAILY MARKET OVERVIEW – European Stocks Futures flat to lower before the opening…

Top 3 Pre- Market Headlines – August 9, 2016

  • European Stocks Futures flat to lower before the opening…

  • Oil prices plunge after sharp rally with focus on U.S. data…

  • Asian stocks inch up as Sensex dips after RBI holds key rates…

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European Stocks Futures flat to lower before the opening…

European Stocks Futures headed lower today, indicating that yesterday’s rally might come to an end as investors seek to cash in the profits. Indicatively, Germany’s DAX lost 0.2 percent to last trade at 10413.3 while France’s CAC 40 futures traded 0.1 percent lower at 4408.5. U.K.’s FTSE traded flat at 6766.8 while the Britons and investors worldwide await the manufacturing and industrial production data to be released later at 8:30 GMT. Euro Stoxx 50 also traded 0.1 percent lower at 2978.0

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Oil prices plunge after sharp rally with focus on U.S. data…

Crude Oil Prices edged down today after profit-taking after a sharp rally overnight as investors were encouraged by the possibility that the world’s oil cartel may reconsider a production freeze at a meeting in late September. Indicatively, WTI crude oil prices dipped by 0.7 percent to last settle at $42.73 while Brent oil prices plunged to $45.03, having dipped 0.8 percent for the day.

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Asian stocks inch up as Sensex dips after RBI holds key rates…

Asian stocks edged higher today, with data showing low inflation in China keeping alive hopes of further monetary policy easing but Indian shares fell, pausing a three-day rally, as investors booked profits after the central bank of India kept its policy interest rate unchanged, as was widely expected. The rupee was little changed, after central bank assured markets of forex intervention to ensure the special concessional swap facility would mature without disrupting the market. It is also worth noting that the benchmark 10-year bond yield was down 2 basis points at 7.15 percent after the RBI said it would conduct bond buys under the open market operations the day after tomorrow.

Other Asian Stock Markets continued to rally however and closed higher. Japan’s Nikkei closed at 16764.97, having added 0.7 percent, Australia’s S&P/ASX 200 advanced 0.3 percent to close at 5552.50 while DJ New Zealand closed 0.3 percent higher at 238.21. China’s Hang Seng traded 0.3 percent lower at 22433.00.

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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 – European Stocks Futures flat to lower before the opening…

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