{"id":11094,"date":"2021-06-23T05:29:06","date_gmt":"2021-06-23T05:29:06","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/06\/23\/european-shares-set-for-positive-open-2\/"},"modified":"2021-06-23T05:29:06","modified_gmt":"2021-06-23T05:29:06","slug":"european-shares-set-for-positive-open-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/06\/23\/european-shares-set-for-positive-open-2\/","title":{"rendered":"European Shares Set For Positive Open"},"content":{"rendered":"
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European stocks are seen opening flat to slightly higher on Wednesday, following gains on Wall Street overnight that saw the tech-heavy Nasdaq Composite rising to a record high. <\/p>\n

Asian markets<\/span> traded mostly higher after Fed Chair Jerome Powell reiterated that inflation pressures will be temporary and stressed that the Fed will do everything to support the economy<\/span> for as long as it takes to complete the recovery.<\/p>\n

COVID worries persist, with the U.S. Centers for Disease Control and Prevention classifying the Delta, a highly transmissible COVID-19 variant, as a “variant of concern.”<\/p>\n

“The Delta variant is currently the greatest threat in the U.S. to our attempt to eliminate COVID,” White House Chief Medical Advisor Dr Anthony Fauci has warned.<\/p>\n

The dollar remained elevated and gold held steady, while Bitcoin recovered some ground after having fallen below US$30,000 in a volatile session. <\/p>\n

Oil held above $73 a barrel after industry data pointed to another decline in U.S. crude stockpiles. Investors await the Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy.<\/p>\n

In economic releases, flash manufacturing and service PMIs will give further insight into the reopening progress of major economies in Europe. <\/p>\n

The Governing Council of the ECB is set to conduct a non-monetary policy meeting. <\/p>\n

Comments from ECB Vice President Louis De Guindos may offer some direction to EUR\/USD traders.<\/p>\n

Across the Atlantic, traders are likely to keep an eye on the Commerce Department’s report on new home sales for the month of May. <\/p>\n

U.S. stocks rose overnight after Fed Chair Powell’s reassuring comments on inflation and monetary policy. <\/p>\n

The tech-heavy Nasdaq Composite climbed 0.8 percent to reach a new record closing high, while the S&P 500 rose half a percent and the Dow edged up 0.2 percent.<\/p>\n

European stocks ended in positive territory on Tuesday as mining and energy companies benefited from stable commodity prices.<\/p>\n

The pan European Stoxx 600 gained 0.3 percent. The German DAX inched up 0.2 percent, France’s CAC 40 index gained 0.1 percent and the U.K.’s FTSE 100 added 0.4 percent. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n