by Claude Chendjou
PARIS (Reuters) – The main European scholarships are expected stable on Tuesday the day after a positive session linked to the flip -flop of the American president, Donald Trump, on the customs duties he intended to impose on the European Union (EU).
According to the first indications available, the Parisian CAC 40 is expected to lose 0.06% when opening after winning Monday 1.21%. The Dax in Frankfurt could go back 0.01%. The FTSE 100 in London, closed on Monday for a holiday, is expected to stand out with an increase of 0.81%. The Eurostoxx 50 index is expected to fall on 0.04%. The Stoxx 600 should drop by 0.09% the day after 0.98%.
The term contracts in Wall Street suggest an opening in the green while the American markets were closed on Monday due to the Memorial Day, the day of the combatants.
Donald Trump returned to his new threats on Sunday to impose customs duties of 50% on the European Union as of June 1, agreeing to repel this deadline in order to make it coincide with that fixed for the end of commercial negotiations with the block on July 9.
The announcement benefited the automotive, luxury, spirits, banks and new technologies on Monday, which should be victims of profit on Tuesday.
In terms of economic indicators, the main meeting of the week is Thursday with the publication of the PCE price index, a preferred inflation measure by the American federal reserve (Fed), whose report of the last monetary policy meeting will be published on Wednesday, before its next meeting scheduled for June 18. For the day’s meeting, the market will read the preliminary inflation figures in France for the month of May and consumer morale indicators in Germany and the United States.
In the results of companies, while the season is almost completed, the financial accounts on Wednesday of Nvidia, a barometer of artificial intelligence, will constitute a test of the solidity of the market rebound.
“The previous session was better for risky assets, after Trump postponed Customs Duties from the EU to July 9,” said Tony Sycamore, market analyst at IG.
“I think that the main engine of this week is the end-of-month rebalancing flow, which should start manifesting itself shortly (…) the report on Nvidia’s results will be at the center of attention (…),” he added.
In Asia
On the Tokyo Stock Exchange, the Nikkei index advanced 0.51% to 37,724.11 points. The broader Topix took 0.64% to 2,769.49 points.
The MSCI index bringing together the values ​​of Asia and the Pacific (excluding Japan) loses 0.55%.
In China, the SSE Composite of Shanghai is falling by 0.22% and the CSI 300 refused by 0.50%, the indices being pulled down by the automotive sector in an increased surveillance context of the regulatory authorities. Reuters reported that the Chinese trade ministry would meet automakers, including Byd and Dongfeng Motor on Tuesday, to discuss a new practice, the sale of “zero mileage” cars.
Changes
The dollar is practically stable (-0.06%) in the face of a basket of reference currencies after having vacillated due to investor concerns about the vast bill on taxes and expenses defended by Donald Trump.
The euro is almost unchanged, at 1.1387 dollars, while the pound sterling is processed at 1.3563 dollars (-0.01%).
RATE
The yield of ten -year American treasury bills gives 3.8 base points to 4.4733%.
The yield of the German Bund of the same deadline abandons approximately two base points, to 2.539% after a drop of 1.3 points the day before.
Japanese sovereign yields in the very long term (JGB) fell sharply on Tuesday after Reuters reported that the Ministry of Finance could reduce the issue of these obligations: JGB yield to 30 years has lost 12.5 base points, to 2.91 %, its lowest level since May 14, while the 20 -year -old dropped by 13.5 points, to 2.37 %.
OIL
The oil market is falling back on Tuesday for a second consecutive session while investors are preparing to increase OPEC+production.
The Brent refused from 0.22% to 64.63 dollars per barrel and the American light crude (West Texas Intermediate, WTI) from 0.26% to 61.37 dollars.
(Written by Claude Chendjou, edited by Augustin Turpin)
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