Stock in the European market started the day in green as investors focus on the US non-farm payrolls report, which is expected to be released later during the day as it may show when the Federal Reserve (Fed) may begin to scale back on its bond-buying program.
The European Euro Stoxx 50 advanced 0.29% to 2,816.66 at the market open, while the German DAX rose 0.24% to 8,430.51. The French CAC 40 jumped 0.25% higher at 4,052.69, while the UK’s FTSE 100 gained 0.23% to 6,697.53.
The expected US non-farm payrolls report is expected to show an addition of 185,000 jobs to the US employers in the month of July, while the unemployment rate is expected to show a slight fall from previous record of 7.6% to 7.5%.
Earlier this week the central bank said that it would begin to scale back on its monthly bond-buying program if the US economy have boosted.
The Federal Open Market Committee has said it wants to see its target met before proceeding with scaling back with the quantitative easing, with targets 6.5% for unemployment rate and inflation rate at 2.5%.
Spain’s unemployment figures for July showed that unemployment fell by 64,900, compared to previous figures for the month of June with a fall of 127,200, according to reports from Spain’s employment ministry.
Eurozone producer prices are expected to gain up to 0.1% in the month June on a monthly basis, after previous fall of 0.3% in May.
The post Europe Shares open green ahead of US payrolls report appeared first on | HY Markets Official blog.
Article provided by HY Markets Forex Blog
