European stocks look set to open lower on Tuesday as investors look ahead to this week’s meeting of the European Central Bank, which is expected to debate a cut in its stimulus in light of recent stronger-than-expected inflation data.
Asian markets traded mixed as investors assessed the outlook for central bank stimulus and the impact of the Delta virus strain on economic reopening.
Goldman Sachs Group economists revised down their forecast for growth in the United States economy this year while upgrading it for next year.
The dollar hovered near recent lows despite firmer U.S. Treasury yields while oil held losses amid demand concerns after Saudi Arabia cut crude contract prices for Asian buyers.
China’s yuan firmed against the dollar after data showed the country’s exports growth unexpectedly accelerated in August.
Bitcoin rose about 1.5 percent in the last 24 hours as El Salvador becomes the first country in the world to adopt it as legal tender alongside the U.S. dollar.
Overnight, U.S. markets were closed for Labor Day holiday.
In Europe, stocks edged towards record levels on Monday amid bets that central banks in several countries, including Japan and China will announce additional stimulus to keep economic recovery on track.
The pan European Stoxx 600 gained 0.7 percent. The German DAX climbed 1 percent, France’s CAC 40 index rose 0.8 percent and the U.K.’s FTSE 100 added 0.7 percent.
European Shares Seen Lower At Open
2021-09-07 05:53:40
