European Stocks to Set Higher Amid Fed Chair Speech
Expectations are now mounting over higher European stocks on Friday as investors wait patiently for a speech from the U.S. Federal Reserve President Jerome Powell.
In addition to that, based on the IG data, FTSE 100 showed about 31 points higher at 7,159. And they anticipate that the DAX will jump for about 68 points to 11,815. And then, the CAC 40 climbed nearly 28 points at 5,416.
Moreover, investors are looking forward to the coming Fed Chair’s speech later on Friday, held at the central bank’s Jackson Hole symposium. And they will closely watch for any signs of an interest rate cut in the future. On Thursday, Robert Kaplan, Dallas Fed President, stated that he wants to dodge chopping rates in September. However, he is not closing any possibilities.
Then, on Saturday, the Group of Seven (G-7) annual summit will begin in France. And it will gather all leaders from Britain, France, Canada, Italy, Germany, Japan, and the United States. Also, they expect it to end without a joint communique for the first time in the 44-year history. And it was because of the intensifying rifts between the heads of state.
Other Than European Stocks
Now, away from the European stocks, the Brexit will most likely be high on the agenda. And this was after U.K. Prime Minister Boris Johnson talked this week with French President Emmanuel Macron and German Chancellor Angela Merkel.
Then on Thursday, Macron hinted confidence that there might be a solution about the slightly amended withdrawal agreement. However, he reiterated that the backstop for the Republic of Ireland-Northern border is necessary.
Elsewhere, Asian stocks got mixed on Friday following the escalation of tensions between Japan and South Korea. And the said tensions started to mount after Seoul canceled an intelligence-sharing pact with Tokyo over a bitter trade dispute.
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