Table of Contents:
Opening of European stock exchanges
European stock exchanges opened the day with a cautious attitude, waiting for the report on the US labor market, an event that could influence the Federal Reserve’s monetary decisions. At Piazza Affari, the Ftse Mib was above parity, with an increase of 0.3% and a value that is around 34,750 points.
Among the outstanding securities, Moncler recorded an increase of 3% after the upgrade to buy by Goldman Sachs, with a target price set at 58.7 euros.
Focus on the American job report
The market is waiting for the American job report, scheduled for the afternoon, which estimates about 220,000 nonfarm payrolls and an unemployment rate stable at 4.1%. This data will be closely monitored by the Federal Reserve, which will have to decide the pace of the next interest rate cuts. Recently, the president of the Fed, Jerome Powell, emphasized the strength of the US economy, suggesting a cautious approach
to monetary easing.
Economic Indicators in Europe
In Europe, attention is also paid to the final reading of GDP for the third quarter of the eurozone. In addition, retail sales in Italy are expected to be published, after data on German industrial production showed a decrease of 1% in October, with an annual decrease of 4.5%. These indicators could provide additional insights into the region’s economic health
.
Bond markets and commodities
In the bond market, the Btp-Bund spread is around 110 basis points, with the Italian 10-year yield at 3.2% and that of the German benchmark at 2.10%. On the raw materials front, Brent oil remains at 72.3 dollars per barrel, after the recent OPEC+ meeting, which decided to postpone the removal of production cuts by three months. The increase in production is therefore postponed to April, at a slower pace than originally expected
.
Trend of currencies and cryptocurrencies
In the currency market, the euro/dollar exchange rate is rising, reaching 1.057, while the dollar/yen fluctuates around 150. Among cryptocurrencies, Bitcoin returned below 100,000 dollars after setting new records the previous day. This trend highlights the volatility of the cryptocurrency market, which continues to arouse interest among investors
.
