Forex Marketz Daily Forex News – Fully Markets Update
Trade Volume Thin in European Markets
European financial and stock market are set to reopen today after the long Christmas holiday break. Trade volumes are expected to be thin during the holiday period through the region.
At the time of this report, and about an hour or so before the opening European bell, futures are showing the French CAC 40 about two points lower. Futures are as well as the London FTSE 100 is closed today and the DAX, in Germany, is about four points lower before the opening bell.
European trading hours are expected to follow a rather muted session in Asia where low trade volumes eventually sent some of the Asian markets a tad higher. Economic data out of Japan showed that that nation was a long way away from achieving the Bank of Japan’s target of two percent inflation. Other data, out of China was a bit more encouraging.
The National Bureau of Statistics reported that corporate profits, for large firms, rose 14.5 percent in November. There was a big increase for October of 9.8 percent as well. This comes on the back of strengthening raw material prices and a lower base than last year.
On Friday, US markets were mostly flat ahead of the Christmas Holiday as the Dow Jones Industrial Average failed to close above the key 20,000 level once again.
A far as corporate news is concerned, in Europe today, investors will eying Banca Monte dei Paschi di Siena after the European Central Bank (ECB) told the troubled Italian bank that they need to fix a €8.8 billion capital shortfall.
