European Shares Poised For Mixed Open

(RTTNews) - European stocks may open on a mixed note Friday as weak U.S. data stirred fresh debate over when the Fed may start cutting interest rates.

The dollar held firm ahead of the release of U.S. reports on existing home sales and leading economic indicators later in the day.

FOMC member Thomas Barkin is set to speak later in the session.

In a discussion at the 2024 Michigan Bankers Association Convention on Thursday, Minneapolis Fed President Neel Kashkari noted that it will probably take a year or two to get inflation back to the central bank's 2 percent target.

Former Fed Bank of St Louis president James Bullard said he expects the pace of U.S. monetary policy easing to be slow.

Despite Fed officials projecting only one rate cut in 2024, markets are pricing in two quarter-point rate reductions this year, in November and December respectively.

Closer home, U.K. retail sales figures and flash PMI readings from Britain, France, Germany and the euro area may garner investor attention later in the day.

Asian markets were broadly lower, with Hong Kong's Hang Seng index falling more than 1 percent as the yuan continued to weaken on concerns about rising geopolitical tensions between China and the West.