FX.co ★ European Stocks Set for Positive Open

European equity markets were set for a slightly higher open on Friday after two consecutive sessions of losses, as the recent rally in oil prices and global bond yields showed signs of easing, providing some relief to investors. Attention was firmly on a key US inflation report due later in the day, which could shape expectations for a potential Federal Reserve rate hike next week.

On Thursday, the European Central Bank delivered the widely expected quarter-point interest rate increase. President Christine Lagarde underscored lingering upside risks to inflation and mounting downside risks to economic growth.

Investors are now looking to UK GDP data and Germany’s July current account figures for further insight into the region’s economic outlook. No major corporate earnings releases are scheduled for the session. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were both up about 0.2%.