Thursday, October 21, 2021

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    European stocks set for stable opening

    European stocks could open positively on Thursday, with the Federal Reserve Board announcing plans to taper asset purchases in mid-November or mid-December.

    Asian market It rose with US stock futures in a bet on a sustainable economic recovery.

    China’s inflation data in September turned out to be a mixed bag, consumer price inflation softened last month, and factory gate inflation surged to its highest level in almost 26 years, boosted by soaring raw material prices. bottom.

    Yields on long-term government bonds rose overnight, and the dollar remained near its lowest level against major peers this week. Meanwhile, oil prices rose with data showing higher-than-expected US gasoline and distillate inventories.

    The Singapore dollar rose after the central bank unexpectedly tightened monetary policy to ensure medium-term price stability amid rising cost pressures.

    Data show that consumer prices rose slightly more than expected in September, and the minutes of the Fed’s September meeting provide an exemplary tapering path for central bankers to gradually curtail asset purchases. Overnight, US stocks rose sharply after the data showed what was discussed.

    The technology-intensive Nasdaq Composite rose 0.7% and the S & P 500 rose 0.3%, but the Dow ended flat with a negative bias.

    European stocks rose on Wednesday as investors supported a fairly strong earnings update and positive export data from China.

    The Pan-European STOXX 600 rose 0.7%. Germany’s DAX rose 0.7%, France’s CAC 40 index rose 0.8%, and the UK’s FTSE 100 rose 0.2%.

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    European stocks set for stable opening

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