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Markets are waiting for central banks

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Markets are waiting for central banks

Markets on both sides of the Atlantic yesterday for the third session in a row were in an atmosphere of anticipation of the next action of the central banks. The anticipation that led the two previous meetings to an agreed retreat in Europe and the US. At the same time, investors’ attention was focused on data on inflation in the Eurozone, as well as on employment in the US. While Wall Street continued its downtrend yesterday, some European stock markets rebounded with modest gains.

These include London’s FTSE 100, which closed marginally positive up 0.07%, and Frankfurt’s Xetra DAX, which closed up 1.90% amid an atmosphere of optimism that fueled the country’s success. its gas reservoirs are reaching their targets ahead of schedule. The positive development overshadowed fears of inflation jumping to 8.8% in August in Europe’s largest economy. Conversely, the Paris CAC 40 closed with a slight loss of 0.19%, as did the pan-European EuroStoxx 600 with a loss of 0.73%. It is worth noting that in the first hours of the session EuroStoxx 600 added 0.1%.

The pan-European EuroStoxx 600 index closed yesterday with a loss of 0.73%.

Meetings in the coming days are expected to be driven by data to be released on the global economy and indications of where monetary policy is heading in the US and Europe. Estimates agree that euro zone inflation reached 9% in August, picking up from 8.9% in July. Relevant data will be released today, and on Friday data on the US labor market is expected, which will demonstrate whether the Fed is succeeding in cooling the world’s largest economy. Economic analysts polled by Reuters estimate that 300,000 new US jobs are expected to be created in August, compared with 528,000 created in July.

Author: REUTERS, BLOOMBERG

Source: Kathimerini

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