FXStreet (Mumbai) – Although major Asian indices remain deep in the red, European stocks are set to open the week on a positive note as the main focus now remains the Fed decision.
Markets already seem to have believed that no Fed rate hike may happen until early 2016, lifting the sentiment around the European indices futures, which is likely to translate into a higher start on the European stocks.
Stock markets in Asia were mostly lower on Monday, with the Shanghai Composite index plunging about 3%, probably in reaction to the latest downbeat industrial output data from China. While the Nikkei closed -1.63% lower at 17,965 points.
Ahead of Europe open, futures for Germany’s DAX 30 index trades muted around 10,125, while futures for the UK FTSE 100 index advanced 0.37% to 6,116. Among the other indices, French CAC 40 futures gained 0.28% to 4,548, while futures for the pan-European Euro Stoxx 50 index pared gains and now trades flat at 3,180.
Meanwhile, markets now look forward to the upcoming Euro zone industrial production due later this session.
Industrial production in the euro zone is seen as advancing 0.2% month-on-month in July, following a 0.4% decline reported in June, while growing 0.5% when measured annually, compared to a 1.2% gain recorded in June.
(Market News Provided by FXstreet)