European Stock Markets Set to Open Higher After Announcement of ECB’s Stimulus Measures

European stock markets look set to trade in the green today following ECB's announcement of stimulus measures to revive the weakening...

DAX

European stock markets look set to trade in the green today following ECB’s announcement of stimulus measures to revive the weakening Eurozone economy. Earlier today, Asian stock markets also rallied as the market sentiment was boosted by ECB’s recent announcement and expectations of a thaw in US-China trade tensions.

The ECB announced a 10bps cut in its deposit rate and the restarting of its QE program on November 1 for bond purchases worth 20 billion euros every month. The bond purchase program could extend for as long as the bank sees necessary to lift the Eurozone economy.

European stock markets could be impacted by Eurozone’s trade balance and wages data due later today. At the time of writing, the main German index DAX is trading at a little above 12420.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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