Europe stocks set for muted open as Yellen Jackson Hole speech, oil prices in focus
European markets are expected to open flat on Monday as investors hope that the U.S. Federal Reserve’s Jackson Hole meeting this week will produce some hints about the timing of an interest rate hike.
London’s FTSE 100 is seen 2 points lower at 6857, the German DAX is called up 1 point at 10545, and the French CAC is expected to open down 1 point at 4399.
Fed Chair Janet Yellen will speak at the annual mountain retreat meeting of central bankers on Friday, with markets watching closely for comments on the U.S. economy.
The U.S. dollar was higher against major currencies including the yen, euro and sterling after Fed vice chairman Stanley Fischer said on Sunday that the U.S. economy was close to hitting the central bank’s targets for full employment and 2 percent inflation.
Analysts said that further positive comments could come out of Wyoming meeting.
“I think there is a growing expectation that Jackson Hole may see some relatively upbeat and hawkish commentary on the U.S. economy. So the key things to watch this week will be how high this bounce in the USD can go and how much we see a similar moves in US treasuries,” Angus Nicholson, market analyst at IG, told CNBC by email.
The muted open follows mixed trade in Asia and as oil prices pulled back.
There are no major earnings releases on Monday.
Source: CNBC
