Wednesday, September 16, 2015

European stocks poised for a higher start, FTSE awaits UK jobs report

FXStreet (Mumbai) - The European indices are expected to kick-off Wednesday on a firmer note, tracking the positive lead from the US stocks as well as the Asian markets, while traders are expected to remain wary as the Fed starts its much-hyped September meeting.

The UK employment data, EZ CPI in focus

European stocks await fresh updates from the labour data from the UK and fresh inflation figures from the euro zone for further momentum. The UK's jobless rate is expected to remain at 5.6% in the quarter to July, while jobless claims are forecast to decline by 5,000 in August. The claimant count rate is seen at 2.3%, the same as before.

While the bloc's inflation is expected to hit 0.2% in August, while a 1% rate is predicted for the core figure.

Ahead of Europe open, futures for Germany's DAX 30 index added 0.14% to 10,284, while futures for the UK's FTSE 100 index trades muted around 6,148. Among the other indices, French CAC 40 futures gained 0.16% to 4,591, while futures for the pan-European Euro Stoxx 50 index increased 0.25% to 3,220.

In the day ahead, the volumes are expected to remain relatively thinner as most traders will prefer to remain on the side-lines until Thursday’s Fed verdict.
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