European Markets Seen Opening On A Mildly Positive Note

(RTTNews) - European markets are expected to record a muted opening on Monday amidst uncertainty about the monetary policy outlook by the Federal Reserve, the European Central Bank as well as the Bank of England. Recent mixed economic data and divergent central bank commentary added to the uncertainty.

Wall Street had closed on a negative note on Friday, amidst hotter-than-expected producer price inflation readings from the U.S. for January. Nasdaq Composite slipped 0.82 percent to close at 15,775.65 whereas the Dow Jones Industrial Average dropped 0.37 percent to finish trading at 38,627.99.

Positive sentiment however prevailed in the European bourses on Friday. U.K.'s FTSE 100 surged 1.50 percent, buoyed by the 3.4 percent monthly rebound in retail sales. The pan-European Stoxx-50 rallied 0.46 percent whereas Germany's DAX rallied 0.42 percent. France's CAC 40 added 0.32 percent. Switzerland's SMI gained 0.23 percent.

Current indications from the European stock futures indicate a mildly positive sentiment. The SMI Futures (Mar) has edged up 0.03 percent. The CAC 40 Futures (Mar) has gained 0.11 percent. The FTSE 100 Futures (Mar) has added 0.10 percent. The pan-European Stoxx 50 Futures (Mar) has edged up 0.06 percent. The DAX Futures (Mar) is trading 0.09 percent higher.

American stock futures are trading in mildly positive territory. The US 30 (DJIA) is trading 0.03 percent higher, whereas the US500 (S&P 500) is trading 0.08 percent above the flatline.

Asian stock markets are trading on a mixed note. South Korea's KOSPI has rallied more than a percent. China's Shanghai Composite is trading 0.71 percent higher after the holiday break. India's Nifty 50 is trading 0.31 percent higher. Australia's S&P ASX 200 has edged up 0.09 percent. Japan's Nikkei 225 has dropped 0.17 percent whereas Hong Kong's Hang Seng has slipped more than a percent. DJ New Zealand has also tumbled 1.4 percent.

The Dollar Index (DXY), a measure of the U.S. dollar's strength relative to six currencies, has edged down 0.06 percent to 104.24, from the previous close of 104.30 in thin holiday trade. The EUR/USD pair has edged up 0.05 percent to 1.0779 whereas the GBP/USD pair has rallied 0.17 percent to trade at 1.2620.

Gold extended gains despite a spike in producer price inflation in the U.S. Gold Futures for April settlement is trading at $2,030.85, which is 0.33 percent higher than the previous close of $2,024.10.

Crude oil prices slipped as demand concerns were renewed with the jump in producer price inflation. Brent Crude Futures for April settlement slipped 0.74 percent to $82.85 whereas WTI Crude Futures for April settlement dropped 0.76 percent to $77.86.

Major earnings updates due from the region on Monday include BHP Group, Bonheur, Temenos Group, Luzerner Kantonalbank, British Land Company, Forvia, BB Biotech, BIC, Nnit, ICADE and Neobo Fastigheter.

No major data releases are scheduled from the region on Monday.