(News Bulletin 247) – The American Central Bank raised its key rate yesterday evening by 25 basis points, as expected by the market. From now on, its key rates therefore evolve within a range between 4.75 and 5%. J.Powell recalled that inflation remains a priority objective for the central bank, in particular the 2% objective. The markets are now only expecting an additional rate hike by the end of the year on the other side of the Atlantic. Today it is the Bank of England which must make announcements with in particular an increase of 25 basis points expected by the market. At the microeconomic level, Carrefour will lead the meeting, following the decision of its Board of Directors, to propose to the next General Meeting, which will meet on May 26, 2023, to renew Alexandre Bompard’s term of office in advance in order to do so correspond over the duration of the “Carrefour 2026” strategic plan. No statistics in Europe scheduled today. It will be necessary to wait until 1:00 p.m. to know the figure for building permits in the United States and then that of weekly unemployment registrations 30 minutes later.

KEY GRAPHIC ELEMENTS

The index is back on the 20 and 50 period moving averages which are now resistance. The gap left open under the last two candlesticks could be today’s target for sellers. A further decline would bring the index back to 7000 points. Rebounds towards 7200 points are short-term selling opportunities.

FORECAST

In view of the key graphic factors that we have mentioned, our opinion is negative on the CAC 40 index in the short term.

This bearish scenario is valid as long as the CAC 40 index is trading below the resistance at 7168.00 points.

The News Bulletin 247 board

CAC 40
Negative
Resistance(s):
7168.00 / 7225.00 / 7326.00
Medium(s):
7000.00 / 6844.00 / 6740.00

Hourly data chart

Graphic made from the software Prorealtime

Chart in daily data

CAC 40: Powell revives sellers (© ProRealTime.com)
Graphic made from the software Prorealtime



function creatOutbrainJs() {
const creatJs = document.createElement(“script”);
creatJs.defer = true;
creatJs.src = “https://widgets.outbrain.com/outbrain.js”;
return document.body.appendChild(creatJs);
}

window.didomiOnReady = window.didomiOnReady || [];

window.didomiOnReady.push(function(Didomi) {
console.log(“Didomi ready “);

Didomi.getObservableOnUserConsentStatusForVendor(164)
.filter(function (status) { return status !== undefined })
.subscribe(function(consentStatus) {
if (consentStatus === false || consentStatus === true) {
console.log(“Didomi consent -> exécution du script outbrain “, consentStatus);
creatOutbrainJs()
}
});

});