by Mara Vilcu

(Reuters) – European scholarships finished down on Friday while investors learned of several economic data.

In Paris, CAC 40 lost 0.76% to 7,703.90 points. In Frankfurt, the Dax abandoned 0.50% and in London, the FTSE 100 fell 0.32%.

The Eurostoxx 50 index fell 0.77%, the FTSEURofirst 300 abandoned 0.65%and the Stoxx 600 lost 0.55%.

Over the week, the Stoxx 600 abandoned 1.90% and the CAC 40 lost 3.34%.

This Friday, all eyes were turned to economic data, in Europe and the United States.

In Europe, it was especially French and German inflation that concentrated attentions while the monetary policy report of the European Central Bank (ECB) confirmed its wait-and-see attitude with a slight tendency to relaxation.

In the United States, consumer prices have accelerated over one year in July, in accordance with expectations, according to data published Friday by the Commerce Department. “The figures published today (…) leave the door wide open to the Fed to make a decline at its meeting on September 17,” said Art Hogan, chief market strategist at B Riley Wealth.

Traders on term contracts on federal funds are now counting on a probability of 89% of a drop next month, against 84% before the publication of data.

Fed governor Christopher Waller, candidate for the post of director of the central bank, said Thursday that he wanted to start lowering rates next month, in accordance with the requests of the White House tenant to reduce loan costs.

In addition, Friday, a federal judge said that it would set an accelerated calendar for the hearing as part of the Fed Lisa Cook Governor aimed at temporarily preventing President Donald Trump from dismissing her while pursuing a legal action stating that he has no valid reason to dismiss her in the American Central Bank.

VALUES

Ayvens abandoned 2.47% after Citigroup lowered its recommendation on the “neutral” value.

A Wall Street

At the end of the closure in Europe, exchanges at the New York Stock Exchange indicated a drop of 0.46% for the Dow Jones, 0.76% for Standard & Poor’s 500 and 1.23% for the Nasdaq Composite.

The indicators of the day

Consumer prices in the United States have accelerated over one year in July, in accordance with expectations, show data published Friday by the Commerce Department.

German inflation calculated according to European standards (IPCH) increased more than expected over one year in August, to 2.1%, show the preliminary data published Thursday by the Federal Statistics Office.

Changes

The dollar is down, traders preparing for a drop in interest rates by the Fed next month.

The dollar loses 0.05% against a basket of reference currencies.

The euro earns 0.15% to 1.1699 dollars.

RATE

American yields at ten years are increasing, but two -year yields, sensitive to interest rates, have been on the way to record their highest monthly decline for a year, traders having adjusted their positions before the holiday on Monday (Labor Day) and inflation data for the month of August that meet the expectations of economists.

The yield of Treasuries at ten years advances from 2.7 base points to 4.2342%. The two -year -old abandons 1.4 base points at 3.6208%.

The yield of the German Bund at ten years is advancing from 1.9 base points to 2.7165%. The two years takes 0.3 base points at 1.9391%.

OIL

Oil prices are falling, but should display a weekly increase, torn between uncertainty concerning Russian supply and forecasts of a drop in demand when approaching the end of the summer season in the United States, the world’s leading consumer of fuel.

Brent fell 0.68% to 68.15 dollars per barrel and light American crude (West Texas Intermediate, WTI) abandons 0.93% to 64.00 dollars.

To be continued on September 1: [L8N3UK0CT]

(Some data may accuse a slight offset)

(Written by Mara Vîlcu, edited by Kate Entringer)

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