CAC 40: Historical records, a magnet as much as a strength of resistance

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The atmosphere in Paris was slightly degraded, the CAC losing Wednesday 1.17%on Wednesday, however, preserving a margin of more than 100 above the 8,000 symbolic points. The “customs risk” will have weighed, after new remarks as vague as they are bellicose from D Trump on the subject.

The tenant of the White House left for the offensive. After having already targeted aluminum and steel imports, Donald Trump said to be journalists that he was considering establishing customs from more than 25% on imports of cars, medicines and semiconductors . For the automotive sector, the American president said he will give more information “probably this on April 2, but it will be around 25%”. On semiconductors and the pharmaceutical industry, “it will be 25% and more, and it will increase considerably during a year,” he added.

“Electronics, automobile and pharmaceutical products are the three groups in which the United States accuse the largest trade deficit, so it is not surprising that they are targeted. It remains to be seen which of these rates Will be implemented, but there are now a lot of tiering plaques in play, “explains Deutsche Bank.

In the radius of strong variations, Stmicro jumped 7.87% with the support of Jefferies. Nexans (+10.05%) made an exciting quarterly and annual copy. The cable manufacturer has identified a gross operating result adjusted record for 2024, carried in particular by its electrification activities which have recorded significant organic growth. The group’s management has been confident on a risk contract and has also made crucial details on its 2025 objectives.

At 8:00 p.m., well after the closure, therefore, the operators learned of the Fed minutes, report of the last FOMC which made it possible to realize if it was necessary for the concerns of the members of the Board as for the policy Aggressive commercial led by D Trump.

On the other side of the Atlantic, the main shares on shares have once again made a tire close to the zeniths, like the Dow Jones (+0.16% to 44,627 points and the Nasdaq Composite (+0 , 07% to 20,056 points). points.

A point on the other asset classes at risk: around 8:00 am this morning on the exchange market, the single currency was treated at a level close to $ 1,0420. The barrel of WTI, one of the barometers of appetite for the risk on the financial markets, was exchanged around $ 72.00.

At the macroeconomic agenda this Thursday, to follow in priority the weekly registrations for unemployment benefits and the “Philly Fed at 2:30 pm. It will be necessary to wait until 4:00 pm to learn about crude stocks across the Atlantic.

Key graphics elements

We attended a major technical and graphic fact Thursday January 16 with crossing on Gap then extension in session, from the pivot threshold of the 7,500 points, which finds its support attributes. The current work base therefore becomes a band between 7,500 and 7,690 points, in which a certain form of volatility is far from excluded.

This crossing was immediately followed by a new GAP (less ample) and a bullish extension in session, with the participation of many sectors, marking the assertion of the buyer camp.

A first manifestation of a need for courses breathing was illustrated on Wednesday with a high shadow on the candle, on a level close to the 7,800 points, the first palpable obstacle since the rush crossing of 7,465/7,500 points. Between 7,900 and 8,000 points, the flagship index comes into a very short -term over -rascal zone, premises a consolidation entry.

The index just flirted with the 8,000 symbolic points on Friday 24 and 31/01 and reflected on Monday 27/01 and 03/02. Both doji Indecision traced at the heart of the week are a marker of a wait -and -see attitude, and therefore of a precarious balance, at the start of consolidation. This balance was broken from the beginning of February, by a large -scale gap.

The 8,000 symbolic points were crossed in week 7 with confirmation in “Hebdo” data.

FORECAST

In view of the key graphic factors that we have identified, our opinion is neutral on the CAC 40 index in the short term.

We will take care to note that a crossing of the 8260.00 points would revive the tension to the purchase. While a break in the 8000.00 points would relaunch the sales pressure.

Hourly data graphics

Daily data graphics