(News Bulletin 247) – The Paris Stock Exchange is expected to be in the red on Tuesday at the opening, pending the reopening of Wall Street closed yesterday for a long weekend and whose orientation should stimulate a market trend .

Around 8:15 a.m., the ‘future’ contract on the CAC 40 index – passed on the July deadline – fell 19 points to 7304.5 points, announcing a note of heaviness at the opening.

The CAC ended Monday’s session with a decline of 1% to 7314 points, penalized in particular by the deterioration of the bond compartment in Europe.

The rates markets on the Old Continent indeed had a tense start to the week, which wiped out their gains on Friday, signifying erratic movements in view of the next rate hikes by the ECB.

The 10-year German Bund thus tends towards 2.51%, while that of the French OAT rises to 3.03%.

Small reason for relief, the CAC 40 managed to close Monday’s session above its major resistance of 7305 points, a configuration that comes to accredit the ambient optimism around the index.

‘Graphically the CAC 40 index should continue its upward sequence to exceed the upper level of 7400 points and seek its annual and historical records’, thus president of the Kiplink Finance teams.

A bearish trend still prevails in Asia on Tuesday, where the
Tokyo (-0.2%) continues its consolidation after its successful start to the year, which enabled it to claim almost 28%.

Again, the Nikkei index manages to stay above the symbolic threshold of 33,000 points, which is a 33-year high.

Tuesday’s session is expected to be livelier than the day before in equity markets with the reopening of Wall Street following the long weekend of ‘Juneteenth’, and whose direction should give direction to the market.

Futures contracts are currently signaling an opening down around 0.3% or 0.4% on Tuesday for the New York indices, which had all posted comfortable gains last week.

If the economic agenda looks relatively lighter, investors will pay particular attention to the publication, at the start of the afternoon, of housing starts and building permits.

These figures could confirm the recent signs of recovery observed in the US construction sector.

In any case, this does not support the dollar, which remains penalized by the prospect of a serious slowdown in the economy during the second half of the year.

The euro is thus approaching 1.0830 this morning against the greenback.

Crude prices remain on the downside as investors do not want to buy on the cheap after their recent decline due to the persistent context of slowing demand.

The barrel of Brent lost 0.3% to 75.9 dollars and that of American light crude (WTI) dropped &.4% to less than 70.8 dollars.

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