EuroStoxx 50: the index stalls at 4900 points

The numerous speeches from members of the Fed could give direction to the EuroStoxx while waiting for American inflation.

The EuroStoxx 50 continues to consolidate its first quarter gains

The euro zone’s flagship index is marking time after returning to test its recent low at around 4,900 points last week. The EuroStoxx 50 continues to consolidate its gains from the beginning of the year since the beginning of April and to react to the various company results publications.

The week will be free of major economic publications. The numerous interventions by members of the Fed in the media therefore promise to be the main catalyst for the markets this week. Officials will give their opinions on the US central bank’s monetary policy and the potential timing of rate cuts.

EuroStoxx 50 daily price chart – key levels

Support at 4900 points will be crucial for the short-term outlook

Further consolidation of the stock market appears the most likely scenario in the short term. Support at 4900 points will be important for the near-term outlook, with a break below opening the way for a continuation of the April retracement. Conversely, the outlook would become bullish again in the short term in the event of surpassing last week’s high at around 5,000 points.

Next week will be particularly important with the publication of inflation for the month of April in the United States. Given the rise in disinflation uncertainty since the start of the year, CPI inflation is shaping up to be the most important release of the month.