European Investors focus on Geopolitical Concerns

trump, cac 40, french, france, europe, europeanAs of right now, 7:22 am London time, the European stock bourses are headed for a lower open as they reopen after the Easter holiday break. Investors are focused on geopolitical concerns between North Korea and the United States of America as they intensify their conflict. Also, European leaders are criticizing the latest elections in Turkey.

The FTSE 100 in London is pointing to an open of 24 points lower. Futures in Germany are three points lower and futures in France are down five points.

Investors in the European and global markets have tempered hopes immediate tax reforms in the US. This comes after Treasury Secretary Steve Mnuchin told the Financial Times that a new plan is unlikely to be ready before August.

European investors are concerned with North Korea

US Vice President Mike Pence will be meeting with Japanese Deputy Prime Minister Taro Aso. They will be discussing how to open Japan’s doors for US goods and attracting Japanese infrastructure investment. Earlier, this morning, Japan’s Prime Minister Shinzo Abe said he supported the US administration. He stated that pressure is necessary in dealing with North Korea’s missile threat.

In corporate news, investors will get quarterly financial earnings from L’Oreal and the Casino Group. Also on the earnings calendar are IBM, Bank of America and Goldman Sachs. In other corporate news, Post Holdings is purchasing Britain’s Weetabix for $1.76 billion.

Also on tap for today, the International Monetary Fund is also due to release two chapters of its latest World Economic Outlook.

David Frank

David Frank

Chief Market Strategist at CupO'Forex
David has his MA and PhD in Economics. He is a technical analyst who has been trading in the Forex world for over a decade. As an analyst and trader, David believes in the big picture by blending together technical analysis with the fundamentals behind the scenes in the Forex and Bond markets. David’s trading strategy is unique. He blends an understanding of fundamental and macroeconomics with technical analysis to offer a unique view into Forex. He applies several strategies including carry long positions, to take advantage of high yields in non-volatile markets, as well as using quicker, chart related analysis for day trading.
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