Europe seen lower in anticipation of UK GDP data

Markets 8/10/2018, 8:25 AM
Europe seen lower in anticipation of UK GDP data

Major stock markets in Europe were due for a lower start on Friday as investors anticipate United Kingdom gross domestic product (GDP), trade balance, and industrial production data, set to release shortly after the market open. The market sentiment was also affected by the escalating trade war tensions between the United States and China, as well as sanctions Washington imposed on Russia due to its alleged interference in the Skripal poisoning case.

Meanwhile, the euro hit a 13-month low against the US dollar this morning as investors turn to safe-haven assets due to the lingering trade uncertainties.

The FTSE 100 was seen losing 0.34% at the market open. The DAX was due to decrease 0.40% and the CAC 40 was expected to fall 0.54%. The euro lost 0.66% against the dollar to change hands for 1.1450 at 8:24 am CET.

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UK 100 Index-0.18%

6,764.25
Chart for: UK 100 Index

Germany 30 In...-0.24%

10,700.20
Chart for: Germany 30 Index

France 40 Ind...-0.25%

4,777.15
Chart for: France 40 Index

EUR/USD+0.09%

1.1365
Chart for: EUR/USD Spot