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The CAC 40 index managed to keep it in green Thursday, grabbing 0.15% to 8,122 points, while market operators also continued to monitor the latest information around customs duties in the United States and Attempts to dialogue to end the war in Ukraine. In recent days, American president Donald Trump has marginalized the Europeans in these discussions and violently attacked the Ukrainian president, Volodymyr Zelensky, going so far as to qualify him as “dictator”.

Within the tricolor flagship index, extreme performance disparities should be noted. If Stmicro won 5.73% still with the support of Jefferies, Carrefour melted by 8.83% and Renault by 4.04%. The mass distribution giant disappointed with its quarterly publication, while the automaker expects an impact of 1 percentage point linked to European CAFE regulation on CO2 emissions in 2025.

In the statistical chapter, RAS concerning the main publications, very close to expectations, especially on the front of American employment, with weekly registrations for unemployment benefits that are still so skinny, close to the 200,000 new units. What consolidate the Fed prudence message.

As a reminder, the Fed published its traditional “minutes” on Wednesday, namely the monetary policy report of the last FOMC. You can read the great prudence of the monetary institution there, namely its reluctance to the idea of ​​lowering its rates more, as long as Trump’s customs policy is not precisely fixed.

Besides, the White House tenant left for the offensive on this front. 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.

Voluntary, anti-immigration and ultra protectionism policy is deemed inflationary for a great fringe of economists. The Fed in any case needs to clarity on customs duties before considering a next drop in its guiding rates.

To be complete on the statistical front, the Philly Fed came out at 18.4 points.

On the other side of the Atlantic, the main shares on shares finished the Red Thursday session, like the Dow Jones (-1.01%) and the Nasdaq Composite (-0.47%) . The S & P500, a reference barometer of appetite for the risk in the eyes of fund managers, contracted from 0.43% to 6,117 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 Friday, to follow a “flash” data battery of PMI barometers in Europe and in the United States. Also to follow the American consumer confidence index (U-Mich) at 4:00 p.m., as are sales of old housing.

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.

The News Bulletin 247 Council

CAC 40
Neutral
Resistance (s):
8260.00
Support (s):
8000.00 / 7810.00 / 7690.00

Hourly data graphics

Daily data graphics

CAC 40: Beat records, cac or not cac? (© Prorealtime.com)