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European stock exchanges open in positive territory
European stock exchanges started the day with a slight increase, with the Ftse Mib in Piazza Affari reaching +0.3%, reaching around 34,180 points. This encouraging start is supported by good performance in some stocks, in particular Telecom Italia, which gained 2%, and Azimut, up 1.8%. However, not all companies showed positive performance: Eni, Pirelli and Leonardo recorded declines of 0.8% and 0.7% respectively
.
Macroeconomic data coming soon
Today is an important day for the markets, as several significant macroeconomic data are expected. Among these, German factory orders showed a less marked decline than expected for October, with a decrease of 1.5%. In addition, eurozone retail sales and claims for unemployment benefits in the United States are expected, in view of the labor report scheduled for tomorrow. This data could influence future central bank decisions and investor expectations.
Jerome Powell’s statements and market trends
Yesterday, the president of the Federal Reserve, Jerome Powell, made optimistic statements about the US economy, calling it “in an extraordinarily positive way.” He also pointed out that downside risks to the labor market have eased, suggesting that Fed officials can afford to be cautious about reducing interest rates to a neutral level. Markets continue to bet on a possible reduction of 25 basis points in December, which could have significant repercussions on
global markets.
Trend in the bond and commodity markets
In the bond market, the Btp-Bund spread fell to 114 basis points, with the Italian 10-year yield set at 3.2% and that of the German benchmark at 2.06%. This scenario reflects some stability in the markets, despite global economic uncertainties. As far as raw materials are concerned, Brent oil stands at 72.3 dollars per barrel, pending the OPEC+ meeting that will discuss production levels for 2025. Gold, on the other hand, remains stable at 2,647 dollars an ounce, while in the currency market the euro/dollar exchange rate rose to 1.054, with the
dollar/yen returning below 150.
The cryptocurrency market
Finally, in the cryptocurrency sector, Bitcoin has crossed the 102,000 dollar mark, marking a significant increase. This rise could be attributed to various factors, including increased institutional interest and expectations of greater adoption of cryptocurrencies in the global market. Investors are closely monitoring these developments, as they could influence future trends in the cryptocurrency market
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