{"id":12691,"date":"2021-08-09T05:25:03","date_gmt":"2021-08-09T05:25:03","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/09\/european-shares-likely-to-open-lower-in-cautious-trade\/"},"modified":"2021-08-09T05:25:03","modified_gmt":"2021-08-09T05:25:03","slug":"european-shares-likely-to-open-lower-in-cautious-trade","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/09\/european-shares-likely-to-open-lower-in-cautious-trade\/","title":{"rendered":"European Shares Likely To Open Lower In Cautious Trade"},"content":{"rendered":"
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European stocks are seen opening a tad lower on Monday as commodities continued to slump on the back of a rising U.S. dollar and weak Chinese trade data released over the weekend.<\/p>\n

Asian markets<\/span> traded mixed as China and Australia tightened anti-virus controls and data showed China’s export growth unexpectedly slowed in July following outbreaks of COVID-19 cases.<\/p>\n

China’s factory gate inflation in July rose at a faster clip from the previous month, adding to concerns the economy<\/span>‘s recovery will face fresh pressure in the second half of the year.<\/p>\n

The dollar held near four-month highs and Treasury yields extended their gains as Friday’s upbeat jobs data coupled with the U.S. Senate’s vote to advance a $1 trillion infrastructure package put Fed tapering before year-end firmly back on the table.<\/p>\n

The outlook for U.S. monetary policy might be affected by the latest U.S. inflation data and six speeches from Federal Reserve officials scheduled for this week.<\/p>\n

Oil prices fell nearly 2 percent in Asian trade after suffering their largest weekly drop in four months on concerns about potential global oil demand erosion. <\/p>\n

Gold dropped more than 1 percent to hover near a four-month low and base metal prices declined while Bitcoin traded at $43,000 after hitting the highest since May over the weekend.<\/p>\n

Foreign trade data from Germany is due later in the session, headlining a light day for the European economic news.<\/p>\n

U.S. stocks ended mixed on Friday as better-than-expected jobs data added to economic optimism but also raised concerns about the outlook for monetary policy.<\/p>\n

Non-farm payroll employment spiked by 943,000 jobs in July after surging by an upwardly revised 938,000 jobs in June. Economists had expected employment to jump by 870,000 jobs.<\/p>\n

The Dow rose 0.4 percent and the S&P 500 edged up 0.2 percent to reach new record closing highs while the tech-heavy Nasdaq Composite index slipped 0.4 percent.<\/p>\n

European stocks ended Friday’s session slightly higher, with investors focusing on earnings, U.S. jobs data and the global spread of the Delta COVID-19 variant.<\/p>\n

The pan-European Stoxx Europe 600 ended flat with a positive bias. The German DAX edged up 0.1 percent and France’s CAC 40 index gained half a percent while the U.K.’s FTSE 100 ended on a flat note. <\/p>\n<\/p>\n<\/div>\n