by Bertrand de Meyer

Paris (Reuters) – The main European scholarships are expected to decrease Friday at the opening, apart from London, the fear of the consequences of a trade war weighing on feeling.

According to the first indications available, the Parisian CAC 40 could lose 0.21% at the opening.

The term contracts report a drop of 0.19% for the Dax in Frankfurt and 0.17% for the Stoxx 600 while the FTSE in London would earn 0.13%.

The risks linked to a World Trade War are taking over after a week marked by numerous monetary policy decisions.

The American Federal Reserve (Fed), the Bank of England (BOE), the Banque du Japan (BOJ) and the Swedish Riskbank have maintained their main rates unchanged in recent days, highlighting uncertainties on global growth and inflation caused by American customs duties.

The Trump administration warned: it plans to establish so -called reciprocal customs duties on imports from countries with taxes on American products.

“Trump having described the pricing deadline of April 2 as a liberation day ‘, it is difficult to ignore the risks of decline (on European actions), in particular if the most pessimistic scenario, namely customs duties of 25 %, materialize,” said Barclays analysts in a note published on Friday.

Inflation in the euro zone could rebound rapidly, but growth would fall in the event of a major trade war with the United States, Christine Lagarde, president of the European Central Bank (ECB) said on Thursday.

She said that 25% customs duties on European imports would decrease the growth of the euro zone by 0.3 percentage points over the first year, or even 0.5 points in the event of response.

The values ​​to follow:

A Wall Street

The New York Stock Exchange ended in small decrease Thursday in a context of political and geopolitical uncertainties.

The Dow Jones index sold 0.03%, or 11.31 points, to 41,953.32 points.

The larger Standard & Poor’s 500 lost 12.40 points, or 0.22% to 5,662.89 points.

The Nasdaq Composite fell on its side of 59.16 points, or 0.33% to 17,691.626 points.

In Asia

The Tokyo Stock Exchange ended down on Friday, the profits having weighed on the index when it had reached an eight -month period during the session with the support of financial values ​​after data reporting stronger than expected.

The Tokyo Stock Exchange finished down 0.2%.

Chinese and Hong Kong actions are heading for a weekly loss on Friday, technological actions falling due to the increasing pressure of profits.

The Hong Kong Hang Seng index declined by 2.01%, SSE Composite from Shanghai fell 1.28%, the CSI 300 lost 1.55%.

RATE

American yields are slightly increased after the Fed monetary policy decision on Wednesday.

Treasury’s yield at ten years took 1.7 bp to 4.25%, while the two -year title yield increased from 1.2 pb to 3.9692%.

The yield of the German ten years fell 0.6 b to 2.773%, that of the rate at two years loses 0.5 pb to 2.165%.

Changes

The dollar is appreciated compared to other currencies Friday after having recorded its best performance the day before in one day for three weeks, the Fed having indicated that it was not in a hurry to reduce its interest rates.

The dollar earns 0.21% against a basket of reference currencies, the euro crosses 0.2% to 1.0829 dollars, and the pound sterling lost 0.25% to 1.2931 dollars.

In Asia, the yen declines 0.56% to 149.61 yen for a dollar, the Australian dollar yields 0.11% to 0.6293 dollars.

OIL

The crude prices are progressing and are about to know their second consecutive weekly increase, after the new American sanctions against Iran and the new production plan for the production of the organization of oil exporting countries and its allies (OPEC+) has suggested a reduction in supply.

Brent increased by 0.11% to $ 72.08 per barrel, the American light crude (West Texas Intermediate, WTI) increases from 0.13% to 68.16 dollars.

Main economic indicators at the agenda of March 21:

Pays GMT indicator previous consensus period

Fr 07:45 am business climate March 97 97

EZ 3:00 p.m. Consumer confidence March -13.0 -13.6

(1st estimate)

(Written by Bertrand de Meyer, edited by Blandine Hénault)

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