PARIS (Reuters) – The main European stock markets are expected to be hesitant at the opening on Thursday, while no major publication is expected and several monetary policy makers will speak during the day and on Friday.

The first available indications indicate that the Parisian CAC 40 would fall by 0.14% at the opening. Futures contracts on the FTSE in London suggest a drop at the opening of 0.16%, compared to 0.14% for the Dax in Frankfurt, and a stable EuroStoxx 50.

The markets are sensitive to statements from central bankers during a week poor in the publication of indicators, and are positioning themselves ahead of new interventions.

On the European Central Bank side, Governing Council member Philip Lane will speak at 08:10 GMT, while ECB President Christine Lagarde will speak on Friday at 12:30 GMT.

On the Federal Reserve side, the president of the central bank, Jerome Powell, will speak at 7:00 p.m. GMT on Thursday.

The latest central bank meetings have given investors hope for an end to rate increases and a significant easing of monetary policies in 2024, and monetary policy makers are now seeking to qualify this optimistic perception of the markets.

Furthermore, inflation figures in China add to the caution: price dynamics are in deflation, while ex-factory prices are contracting, raising doubts about the extent of the recovery of the world’s second largest economy. .

The fall in oil prices, which have fallen to their lowest in three months, and the significant easing of sovereign yields – the US 10-year yield lost 32 basis points last week – nevertheless help to support risky assets.

VALUES TO FOLLOW:

A WALL STREET

The New York Stock Exchange ended in mixed order on Wednesday, with the S&P-500 and the Nasdaq recording slight gains to continue their streak in the green, while investors remained cautious after comments from officials of the American Federal Reserve (Fed ) on monetary policy.

The Dow Jones index fell 0.12%, or 40.33 points, to 34,112.27 points. The broader S&P-500 gained 4.40 points, or 0.10%, to 4,382.78 points. The Nasdaq Composite advanced 10.56 points (0.08%) to 13,650.41 points.

IN ASIA

he Tokyo Stock Exchange ended higher on Thursday, after two sessions of losses, as strong profits boosted stocks in the energy and consumer products sectors. The Nikkei index gained 1.49% to 32,646.46 points and the broader Topix gained 1.28% to 2,335.57 points.

Watch and calculator maker Casio recorded the biggest gain on the Nikkei, jumping 6.97%, followed by cosmetics maker Kao, which rose 4.95%, both following results positive financial.

Chinese indices are digesting the publication of inflation data which raises fears of a decline in prices in the country, and the latest measures to support the economy. The Shanghai SSE Composite and the CSI 300 did not show a marked direction, the Hong Kong Hang Seng index lost 0.37%.

RATE

US yields are moving cautiously ahead of Powell’s intervention, expected at 19:00 GMT.

The ten-year Treasury yield remains at 4.5039%, while the two-year rate stands still at 4.9382%.

CHANGES

Currency markets are stable after significant movements last week, triggered by the Fed’s monetary policy decision.

The dollar is immobile against a basket of reference currencies, while the euro falls by 0.06% to 1.0701 dollars, and the pound sterling by 0.06% to 1.2275 dollars.

In Asia, the yen eroded by 0.05% to 151.04 yen per dollar, while the Australian dollar gained 0.17% to 0.6412 dollars.

OIL

Oil is taking a break after falling more than 2% on Wednesday, with markets also awaiting more data on the state of the American and Chinese economies.

Brent advanced 0.33% to $79.8 per barrel, with American light crude (West Texas Intermediate, WTI) gaining 0.32% to $75.57.

NO MAJOR ECONOMIC INDICATOR ON THE AGENDA FOR NOVEMBER 9

(Written by Corentin Chappron, edited by Kate Entringer)

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