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Pre-U.S. Session Market Overview

Top 3 Pre-Market Headlines for August 26, 2016:

  • U.S. futures trade flat as Dollar retreats ahead of Yellen speech…

  • Oil prices fall as Saudi Arabia erases prospects of output freeze…

  • European Stocks dip as investors await Fed Cue…

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U.S. futures trade flat as Dollar retreats ahead of Yellen speech…

U.S. futures traded flat today as the dollar edged lower amid subdued markets. Investors will be looking closely at Fed Chair statements later within the day, hoping to get some cues as to when the next rate hike will take place. In today’s pre Wall street trading, Dow 30 futures were trading flat at 18445.0, the S&P was also little changed at 2173.38 while the Nasdaq futures were last seen at 4780.38 having lost 1.8 points as of 11:45 GMT.

The dollar also weakened against most of its peers after a long rally this week and was last seen trading at 100.41 JPY, 0.9677CHF, 0.8859EUR and 0.7572 GBP as of 11:45 GMT.

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Oil prices fall as Saudi Arabia erases prospects of output freeze

Oil prices fell today after the Saudi energy minister disappointed any remaining expectations of strong market intervention by producers during talks next month, and as analysts pointed to an ongoing supply glut that was weighing on markets. In today’s energy markets Crude oil futures dipped an additional 0.4 percent at $47.11 following a down trend for the fourth consecutive say, while Brent oil futures plunged 0.7 percent to last trade at $49.34 as of 11:40 GMT. It is also worth noting that members of the Organization of Petroleum Exporting Countries (OPEC) will meet on the sidelines of the International Energy Forum (IEF), in Algeria on Sept. 26-28.


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European Stocks dip as investors await Fed Cue

European shares were mostly lower today with investors preferring to sit on the sidelines ahead of U.S. Federal Reserve Chairwoman Janet Yellen’s speech later in the day for cues on the timing of the next policy rate hike. Yellen’s will be scrutinized by investors as well as oncoming data that might produce evidence of uneven global growth casts doubt over the Fed’s willingness to tighten policy amid monetary easing in Asia and Europe. In today’s European trading most major indices traded lower after recording deep losses during yesterday’s session, as they were pressured by declining mining and healthcare stocks. Indicatively, Germany’s DAX was last seen trading at 10505.00 having lost 0.2 percent, U.K.’s FTSE 100 traded flat at 6819.00, France’s CAC 40 dipped 0.1 percent at 4404.80 while Euro Stoxx 50 weakened by 0.1 percent to last trade at 2984.0 as of 11:40 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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Pre-U.S. Session Market Overview


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