CAC 40: lateralization of courses before major meetings

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After Renault’s Warning, Stellantis only confirmed, by its quarterly copy, that the automotive construction sector is hard. No result warning concerning the multi -brand firm, but pressure accounts, however, much anticipated by the market. The title, which had opened clearly in the red, however grabbed the ground throughout the session, to finish slightly 1.60%.

The CAC, weighed down by luxury, will have finished the session down 0.31% below 7,800 points, while the market is preparing for a rain of publications. This week about ten companies from the Paris Stock Exchange will be on deck to announce their performances in the second quarter or the first half.

Operators naturally have an eye attentive to commercial negotiations between Brussels and Washington. In an interview with CNBC, Scott Bessent explained that the United States was not going to rush to sign commercial agreements, while the deadline of August 1 approved by President Donald Trump approaches for the entry into force of new customs duties.

“Although we do not exclude the possibility that the United States and the EU reach a provisional agreement by August 1 which would maintain average customs duties on most EU products at 10%, we believe that it is more likely that improbable that Customs duties on the EU increase from 10%, but without reaching 30%”, estimate the economists of Barclays.

On the other side of the Atlantic, the main shares on shares ended in dispersed order, not far from balance, like the Dow Jones (-0.04%) and the Nasdaq Composite (+0.38%). The S & P500, a reference barometer of appetite for the risk in the eyes of fund managers, screened 0.14% to 6,305 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 $ 1,1690. The barrel of WTI, one of the barometers of appetite for the risk on the financial markets, was exchanged around $ 65.40. THE Treasuries 10 Yearsyield of federal sovereign bonds due to 10 years, was negotiated slightly above 4.38%. As for the Vix, it was worth 16.65 at the last fence of the S&P500.

At the macroeconomic agenda on Tuesday, the manufacturing index of the Richmond Fed at 4:00 p.m.

Key graphics elements

The release of the technical camisole is confirmed, coming to give more meaning to the supporting of the mobile average at 20 days (in dark blue).

The buying position on the spot can be kept as long as the oscillations are built between this trend curve and the high bollingger strips (20; 2.5).

The relative force index (RSI) is in full convergence with the courses.

The index has just validated a phase of sweater (graphic rejection).

A tidy (lateral channel) with an amplitude of 400 points is sketching, between 7,500 and 7,900 points.

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 7900.00 points would revive the tension to the purchase. While a break in the 7700.00 points would relaunch the selling pressure.

Hourly data graphics

Daily data graphics