European indices trade modestly flat, EZ data eyed

FXStreet (Mumbai) – European stocks opened the last trading of the week with modestly flat, with French stocks lifted after the country’s consumer spending hit 5-month highs in June which set the tone for a likely higher close for this week.

While European traders also keeps a close eye on the upcoming Euro zone CPI and employment data due to be released later this session for further incentives.

Later during the European session, CPI for the euro zone for July is expected and should remain at June’s levels of 0.2% year-on-year. The unemployment rate for June will follow, predicted to tick lower from 11.1% to 11.0%.

Germany’s DAX 30 index trades flat at 11,263 while the UK benchmark FTSE 100 also trades muted at 6,670. Among the other indices, the French CAC 40 index gains 0.27% to 5,060, and the pan-European Euro Stoxx 50 trades listless at 3,584.

DAX Technical Levels

The index has an immediate resistance at 11313. Meanwhile, support is seen at 11123 levels and 11k levels.

European stocks opened the last trading of the week with modestly flat, with French stocks lifted after the country’s consumer spending hit 5-month highs in June which set the tone for a likely higher close for this week.

(Market News Provided by FXstreet)