Table of Contents:
Current overview of European stock exchanges
The European stock exchanges opened the day with an uncertain trend, showing a general decline. At Piazza Affari, the Ftse Mib recorded a decrease of 0.1%, reaching 34,535 points. Among the outstanding securities, Telecom Italia gained +1.8%, while Banca Popolare di Sondrio saw an increase of 1%. In contrast, Snam and Moncler suffered losses of 0.8% and 0.7% respectively.
This cautious scenario is fueled by the wait for the economic data coming in the coming days
.
Waiting for inflation data and the decisions of the ECB
A key event for investors will be the release of the US inflation data, scheduled for tomorrow. This indicator represents the last major parameter to consider before the Federal Reserve meeting, scheduled for next week. Analysts are particularly interested in the tones that the president of the ECB, Christine Lagarde, will adopt during the last annual meeting of the central bank, scheduled for Thursday. A possible cut in interest rates by 25 basis points is expected, which could significantly affect the markets.
Trend of international markets and raw materials
In the international context, the Australian central bank decided to keep the cost of money unchanged for the ninth consecutive meeting. In China, the stock market slowed after an initial momentum, spurred by government promises to lower rates and boost consumption. On the bond front, the Btp-Bund spread is around 108 basis points, with the Italian 10-year yield at 3.22% and that of the German benchmark at 2.14%. As far as commodities are concerned, the price of Brent oil fluctuates around 72 dollars per barrel, while gold remains close to 2,670 dollars an ounce, influenced by geopolitical risks in the
Middle East.
Movements in the currency market and cryptocurrencies
In the currency market, the euro/dollar exchange rate showed little movement at 1.055, while the dollar/yen rose to 151.7. Cryptocurrencies, on the other hand, see Bitcoin consolidating around 97,000 dollars, maintaining some stability despite general market fluctuations. This environment of uncertainty and expectations could lead to further movements in the markets in the coming days, making it essential for investors to closely monitor economic developments and central bank decisions
.
