Germany slashing its growth forecasts and investors sitting back over US jobs data
Trading Floor News December 7, 2012 3:30 PM
<p>- European stock markets traded higher this morning with the FTSE 100 up slightly in early trading up 7.53 points at 5908. – News from […]</p>
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- European stock markets traded higher this morning with the FTSE 100 up slightly in early trading up 7.53 points at 5908.
- News from Germany slashing its growth forecasts and investors sitting back over US jobs data impacted the markets today. In Germany the Dax was up just 0.1%,with Bundesbank cutting the country’s 2013 GDP forecast, the bank expects just 0.4% growth next year down from previous prediction in June for a 1.6% expansion, as Eurozone debt crisis takes its toll.
- Markets showed caution ahead of the crucial US employment report today, consensus estimates are for a 90,000 gain in non-farm payrolls in November mush worse than the 171,000 increase seen in October, the unemployment rate is expected to remain at 7.9% from the trouble of hurricane sandy last month.
- Further signs from the white house and republicans had resumed private talks on a further delay on the January fiscal cliff lingers over the markets.
- On the home front UK Industrial and manufacturing production figures are due out this morning but the main focus will be on the US employment figures due out at 1.30pm this afternoon.
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