(News Bulletin 247) – The Cac40 posted a solid performance thanks to the good performance of LVMH after its publication of its results. Today it is the turn of Hermès to publish its turnover. Across the Atlantic this afternoon all eyes will be on American banks including JPMorgan Chase & Co, Citi, Wells Fargo and the famous asset manager BlackRock. Note also the publication of the first weighting of the Dow Jones with UnitedHealth Group. In addition to this microeconomic component, operators will also have to process macroeconomic data, namely retail sales at 2:30 p.m. French time, then consumer confidence in the Michigan index at 4:00 p.m. In addition, yesterday was published the producer price index. It shows that US producer prices fell to their lowest level since January 2021. Indeed, the producer price index fell 0.5% last month, posting an annual increase of 2 .7% against an increase of 4.9% in February. These latest data are fueling the likelihood of seeing the Fed continue to slow monetary tightening through its key rates. On the side of the European Central Bank, ECB, on the other hand, we expect a continuation of the rise in its interest rates due to underlying inflation that is still too high. The central bank’s next move could be a 25 or 50 basis point hike, according to Bostjan Vasle, member of the Governing Council and governor of the central bank of Slovenia.


Technically the Paris index is still bullish. A test of 7500 points in the next few hours would constitute the final short-term bullish phase. We will then have to wait for a return to the moving averages and 7300 points to position ourselves again in the direction of the trend. If the index broke the 7300 points at the close, we would then witness the first short-term technical deterioration with the objective of leaving the gap open in the 7200-point zone. In the meantime, the index should stabilize at its historic highs.


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

This bullish scenario is valid as long as the CAC 40 index quotes above the support at 7400.00 points.

The News Bulletin 247 board

CAC 40
7400.00 / 7234.00 / 7015.00

Hourly data chart

Chart in daily data

CAC 40: The Cac at its zenith (©ProRealTime.com)

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