(News Bulletin 247) – Wall Street should progress timidly on Friday at the start of the session, investors seeming to want to calmly end a week characterized by totally sluggish activity.

Around 8:15 am, the ‘futures’ contract on the CAC 40 index – end of month delivery – advanced by 4.5 points to 7227.5 points, suggesting a modest increase at the opening.

Fears of a tightening of the monetary policies of the major central banks remain in the background, pending the meetings of the Fed and the ECB scheduled for next week.

Yesterday’s announcement of a ‘technical’ recession in the euro zone, marked by two consecutive quarters of negative growth, also heightened concerns about the health of the global economy.

At this stage of the week, the CAC 40 is posting a limited weekly decline of around 0.7%, but is maintaining its major support at 7,200 points for the time being.

Kiplink’s technical analysts advise to monitor a possible depression of the intermediate thresholds of 7200 and 7150 points, but especially that of 7105 points, which according to them could further damage the index.

Deprived of catalysts, the Parisian market seems – like the other world places – to seek a direction since the end of April.

In the absence of economic indicators, today’s session should remain particularly calm and weak in terms of trading volumes, on both sides of the Atlantic.

The easing of tensions on the interest rate market could nevertheless favor a small rise in equities to the detriment of bonds.

Sovereign yields are showing great hesitation in the face of doubts regarding the next steps to be taken by the Federal Reserve and then the ECB.

The yield on 10-year US government bonds is stabilizing around 3.73% and in Europe, the yield on the 10-year German Bund, the euro zone’s benchmark rate, is back to 2.40% .

The dollar rallied slightly against the euro, which gave way and lost ground towards 1.0775, but the greenback was heading for losses on the week, with traders apparently betting on a ‘status quo’ from the Fed next week. next week.

Oil is also expected to end the week on a negative note despite the announcement on Sunday of further OPEC production cuts.

The barrel of American light crude (WTI) is trading at 70.8 dollars (-0.7%) and that of Brent from the North Sea at less than 75.5 dollars (-0.7%).

The big winner of the week is for the moment gold – with an increase of 1.4% – the yellow metal continuing to benefit from robust demand, supported in particular by the risks weighing on the American economy.

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