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European stocks turn negative ahead of NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The European indices halted the initial recovery mode and turned lower, with the German and British stocks struggling to retain gains, as falling energy and mining stocks on the outweigh the boost received from China’s stock markets recovery.

    Germany’s DAX 30 index rose as much as 1.1% today, regaining the 10,000 barrier, before paring gains to now trade back below the last. While the UK's FTSE 100 index trades modestly flat at 5,960 versus +0.68% previous, the French CAC 40 index drops -0.42% to 4,384, while the pan-European Euro Stoxx 50 index loses -0.36% to 3,072.

    The sudden turnaround in the risk conditions can be also partly attributed to the cautiousness that prevails ahead of the US non-farm payrolls, which will be released later in the NY session. Markets expected the NFP report to show 200,000 new jobs added in December, with the jobless rate steady at 5%.
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