PARIS (Reuters) – European stock markets are expected to rise at the opening on Monday before several Inflation figures IN the euro zone on Monday and Tuesday and the next monetary policy decision from the Federal Reserve on Wednesday.
According to the first available indications, the Parisian would show an increase of 0.41% at the opening. Futures on the London index suggest an advance at the opening of 0.51%, compared to 0.28% for the Frankfurt index, and 0.36% for the.
Inflation in Germany, seen as a leading indicator of Price pressures for the euro zone, will be released at 1200 GMT, while inflation figures for France and the currency bloc are due on Tuesday.
Price dynamics in Europe are not as persistent as in the United States, but investors will be looking in upcoming data for confirmation that the European Central Bank (ECB) may well continue to lower rates after June.
The European institution has all but committed to easing monetary policy at its next meeting, but several members of the Governing Council have recently opposed more rate cuts.
On Monday, several ECB monetary policy officials will speak: Philip Lane, Pablo de Cos and Luis de Guindos.
Variations could also remain limited before the Fed’s next decision, expected on Wednesday.
The American central bank could reiterate that any rate cut would be conditional on a more marked slowdown in inflation, while pressure on service prices remains significant.
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“The robust data will force the Fed to give a restrictive speech” during its meeting, note analysts from ING (AS:) who evoke a central bank “a little slave to the flow of data”.
VALUES TO FOLLOW:
A WALL STREET
The New York Stock Exchange ended up on Friday, reassured about the prospects of the technological giants while the persistence of inflation in the United States continues to question the trajectory of the Federal Reserve’s rates.
The index gained 0.40%, or 153.86 points, to 38,239.66 points. The broader S&P-500 gained 51.54 points, or 1.02%, to 5,099.96 points. The for its part jumped 316.14 points (2.03%) to 15,927.90 points.
Investors welcomed the good performances of Alphabet (NASDAQ:) (+10.22%), which announced for the first time the payment of a dividend as well as a massive share buyback program, and of Microsoft (NASDAQ:) (+1.82%), whose figures surprised on the upside.
CHANGES
The yen fluctuated sharply on Monday, rebounding after a sharp drop at the opening as the Bank of Japan’s latest monetary policy decision made operators fear that the rate gap with the United States would remain significant.
In Asia, the yen strengthened by 1.52% to 155.93 yen per dollar after losing up to 1.07% and hitting a low of 160.245, with some market sources explaining this rebound as support intervention. to the motto. The Australian dollar rose 0.61% to $0.6573.
The dollar declined by 0.42% against a basket of reference currencies, while the euro gained 0.34% to 1.0728 dollars, and the pound sterling 0.42% to 1.2542 dollars.
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IN ASIA
The Tokyo Stock Exchange is closed on Monday to commemorate the birth of Emperor Hirohito.
Chinese indices are advancing, supported by the real estate sector as some cities have eased restrictions on home purchases. The Hong Kong Hang Seng index advanced 1.19%, the Shanghai SSE Composite gained 0.9%, the CSI 300 1.48%.
RATE
US yields vary little ahead of two data-poor sessions, with investors remaining focused on the Fed’s next decision.
The ten-year Treasury yield is stable at 4.663%, while the two-year rate remains at 4.9934%.
OIL
Crude prices are falling as a Hamas delegation is due to travel to Cairo on Monday for discussions aimed at obtaining a ceasefire.
The eroded by 0.88% to 88.71 dollars per barrel, the (West Texas Intermediate, WTI) losing 0.79% to 83.19 dollars.
(Written by Corentin Chappron)
