CAC 40: Start of a long week in financial information

(News Bulletin 247) – Investors are beginning a busy week of results publications and macroeconomic information. First of all today, we await the publication of the Gross Domestic Product (GDP) in Germany at 10:00 a.m. Then, this week, investors await interest rate decisions from the Bank of Japan, the US Federal Reserve and the Bank of England on Tuesday, Wednesday and Thursday respectively. At the same time, companies will also publish results with Apple as the highlight on Thursday evening. Today, in France, small stocks will be in the spotlight with notably M6, Riber and Veom Group which will reveal their third quarter turnover. Wavestone and Imerys are also expected. Pay attention to the time change in Europe, so Wall Street will open one hour earlier, from 2:30 p.m. to 9 p.m. The American statistics will therefore also be published an hour earlier. On a microeconomic level, we will follow developments around ArcelorMittal, while the toll from the fire in a coal mine operated by a subsidiary of the group in Kazakhstan has increased. Finally, investors are keeping an eye on geopolitical developments in the Middle East as Israeli forces step up their operations.

KEY GRAPHIC ELEMENTS

Technically the stock market index is back in important areas, namely the low point during the stress on American regional banks. A rebound should be organized from these levels towards 7000 points. The index will have to rise above this level to neutralize its technical situation.

FORECAST

Considering the key graphical 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 is trading above support at 6796.00 points.

Hourly graph

Daily Data Chart