(News Bulletin 247) – The Paris Stock Exchange should start without much trend on Friday morning, a certain caution being in order before the publication of inflation figures likely to consolidate the rebound of the market, or on the contrary make it plunge again.

Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – April delivery – climbed five points to 7280.5 points, suggesting a modest rise at the opening.

A confluence of positives has pulled global indices higher in recent weeks, ranging from easing fears around banking stocks to a more dovish tone adopted by central banks, and stronger than expected economic indicators.

By arrogating 1.1% yesterday, at 7263 points, the Parisian market continued its momentum of the last few days, maintaining a favorable dynamic which enabled it to return above its resistance of 7250 points.

The episode of turbulence experienced at the beginning of March has now disappeared, with prices rising 1% above the levels of March 9 and 7% above the lows of March 15.

Investors should now return to a wait-and-see position, at least until the latest data on inflation in Europe and the United States comes out.

Stakeholders await with some excitement the first consumer price statistics in the euro zone for the month of March, which will be released at 11:00 am.

Economists are expecting a sharp drop in inflation due to the base effect linked to energy costs, but the underlying index (excluding energy and food) could still struggle to fall, which could lead to a renewed volatility.

Still on the side of statistics, the US Department of Commerce will publish at 2:30 p.m. its ‘PCE’ index, the inflation indicator favored by the Fed, an appointment again eagerly awaited by the markets.

Above-consensus figures could rekindle fears about Federal Reserve rates and encourage a further push in government bond yields, and thus cause further market shocks.

On the government bond market, the yield on ten-year US Treasury bonds appears to be stuck at 3.54% pending the latest US inflation figures.

The ten-year German is tending to 2.36%, while inflation data published yesterday in Germany proved mixed.

While they were hoping for a return to calm after the start of the fire that broke out in the banking sector, investors are realizing that lingering uncertainties about the economy will make the path to the rise more bumpy than they expected. had become accustomed since the beginning of the year.

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