European premarket from Sergei Kostenko

 

Today the market will keep correcting before the Fed meeting

 

European stocks market ended trading on Monday with a two-day decline in anticipation of the Fed meeting, which begins today. Since there is uncertainty about new incentives from the Federal Reserve, market participants do not want to risk and fixed earlier profits on short-term rally.

Index DJ EURO STOXX BANK up to previous trading closed at 107.62 (+0.30%). Shares of BNP Paribas, UniCredit and Deutsche Bank rose from 0.38% to 1.56%.

Major European indexes at the close of the previous trading session: FTSE 100 - 5,793.20 (-0.03%); DAX 30 - 7,213.70 (-0.01%); CAC 40 - 3,506.05 (-0.37%). Futures on the DJ STOXX 50 in the morning prior to the opening of trading in Europe is 2,511.00 (-0.79%). Trading in Europe opened to reduce the major stock indexes.

 

European index of "blue chips" FTSEurofirst 300, closed on Monday at 1,103.55 (-0.29%).

Before the opening of the European session US yield on 10-year T-Note is 1.66% (+0.000 NCP), the 10-year German Government Bonds is 1.49% (-0.020 NCP), and the 10-year UK Government Bonds is 1.73% (+0.048 NCP), the 10-year Spanish Government Bonds 5.77 (+0.076 NCP), 10-year-old Italy Government Bonds 5.26 (+0.058 NCP).

Oil futures in the morning before the opening of the European trading session adjusted down on rumors from China about the fact that one of the successors of the country's leaders disappeared.

Brent Oil (ICE) in the morning electronic trading before the opening of Europe at 114.65 (-0.14%), and U.S. crude oil WTI (ICE) 96.34 (-0.21%).

Gold futures morning at 1,731.70 (-0.01%), quotes copper at 365.75 (-0.84%).

Commodity Index CRB Index for the previous trading day was 313.24 (+0.50%).

 

Currency market continues to consolidating amid expectations of the results of the Fed meeting, which begins today.

Futures on the dollar index, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 80.27 (-0.09%).

 

Prediction of the day:

If on the Fed meeting will be decided to make new incentives, this will surely have a negative pressure on the U.S. dollar.

 

Events today:

Moscow time

12.30 UK trade balance in July n / a; -8,9 billion pounds -10.1 billion pounds

16.15 Canada Construction August n / a; 206,000; 209,000

16.30 Canada trade balance in July n / a; -1,5 billion kan.doll; -1.8 billion

16:30 U.S. July trade balance n / a; -44,2 billion; -42.9 billion.

18.00 U.S. economic optimism index IBD / TIPP September n / a; 47,3; 45,6

21.15 Great Presentations by the Monetary Policy Committee of the Bank of England Miles

 

Sergei Kostenko

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