Markets in Europe started the trading week green, as major central banks in the US, UK and Europe will maintain the current monthly monetary stimulus measures as they meet later during the week.
The European Euro Stoxx 50 opened the market gaining 0.39% to 2,752.73, while the German DAX advanced 0.54% to 8,289.3. In France, the country’s CAC 40 index edged up 0.41% higher at 3,985.27, while the UK’s FTSE 100 edged down 0.01% to 6,538.80.
The European Central Bank (ECB) is expected to announce their rates decision on Thursday, as to whether to proceed with refinancing rate or minimum bid rate.
However, investors and analysts are expecting the benchmark rate to remain at its current rate 0.50% and unchanged.
The Federal Reserve’s (Fed) upcoming meeting remains the main focus for investors, as they look forward to the two-day meeting for possible hints on how long the central bank may continue its monthly stimulus program.
Earlier this month, the Federal Reserve (Fed) chairman Ben Bernanke said that it’s still early to decide when to start cutting down the central bank’s bond-buying program and the bank still need more proof that the economy is strong and stable.
The US non-farm payroll reports is expected to be released on Friday, which is expected to show an increase in US employment by an additional 192,000 jobs in month of July, while the rate of unemployment is predicted to show a slight fall from 7.6 to 7.5.
In Italy, the business confidence is predicted to improve from previous month’s record of 90.2 to 91 points for the month of July.
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