(News Bulletin 247) – The Paris Stock Exchange should extend its rebound on Friday morning awaiting a flurry of economic indicators likely to influence future monetary policy decisions.

Around 8:15 a.m., the ‘futures’ contract on the CAC 40 index – July delivery – advanced 24.5 points to 7346.5 points, suggesting a new opening in the green.

The Parisian market had succeeded yesterday in aligning a fourth consecutive session of growth by winning 0.4% to 7312 points, beyond the threshold of 7300 points suggesting a continuation of its upward movement.

Unless the trend changes during the day, the week should end with a gain of more than 2%, and the second quarter with an increase of some 1.7%.

Since the start of the year, the CAC 40 has so far posted an increase of around 13%.

This last session of the month, quarter and semester will be animated by a whole series of macroeconomic publications, starting with the first inflation figures in the euro zone for the month of June.

Investors will be especially attentive, at the beginning of the afternoon, to the publication of the ‘core PCE’ price index in the United States, which is the preferred inflation indicator of the Federal Reserve.

Stakeholders hope that these figures will make it possible to envisage a more frank deceleration during the summer.

This statistic should not fail to fuel the debate on the Fed’s rate hike, as expectations of further rate hikes have recently strengthened.

According to the CME Group’s FedWatch Barometer, the chance of a 25 basis point rate hike has risen to almost 87% on the heels of recent Powell statements from 53% a year ago. month.

Against this backdrop, the yield on US 10-year Treasury bills rose above 3.85% yesterday, setting a new high since March.

‘Perhaps the question should be: Will the FOMC cave in and drive US government bond yields back to levels that have caused significant stress in the balance sheets of regional banks, or will he wait to see if the brakes on growth in place have the desired effect? ​​’, wonders one at Muzinich & Co.

Thursday, Wall Street had ended on a measured rise following the publication of data considered encouraging for the American economy: the Dow Jones rose by 0.8% and the S&P 500 by 0.5%.

In Asia, the Tokyo Stock Exchange was down slightly on Friday at the end of the day (-0.2%), which did not prevent it from posting a spectacular increase of almost 20% over the whole of the second quarter.

Supported by indicators showing the strength of the US economy, the dollar confirmed its rebound against the euro, which ebbed this morning around 1.0865 against the greenback.

Oil prices, they no longer seem to know where to go and continue to evolve in a limited ‘trading range’: the barrel of American light crude WTI nibbles barely 0.1% to 69.9 dollars.

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