by Mara Vilcu

(Reuters)-Wall Street is expected in the red on Friday and European scholarships are retreating in mid-session, while markets await the publication of data on PCE inflation in the United States. Futures in New York indices report an opening down 0.35% for Dow Jones, 0.31% for Standard & Poor’s-500 and 0.48% for NASDAQ. In Paris, the CAC 40 lost 0.53% to 7,721.46 points around 10:14 GMT. In Frankfurt, the DAX decreases by 0.51% and in London, the FTSE 100 yields 0.34%.

The Eurostoxx 50 index is down 0.62%, the FTSEURofirst 300 lost 0.59%and the Stoxx 600 fell by 0.57%.

This Friday, economic data is at the center of the attention of investors, who await the publication at 12:30 p.m. GMT from the PCE inflation index for the month of July in the United States, the privileged indicator of the American Federal Reserve (Fed), after Jerome Powell, president of the Central Bank, spoke of a possible drop in rates in September.

Khoon Goh, head of research on Asia at Anz, said analysts would seek to determine whether the impact of the increase in customs duties was beginning to be felt. According to the CME Fedwatch tool, investors are currently counting on a probability of 85% of a drop in rates in September, compared to 63% a month earlier.

Christopher Waller, a member of the Fed Governors’ Council, said Thursday that he wanted to start reducing interest rates next month and that he “expected fully” that other decreases follow in order to bring together the key rate of the Fed of a neutral level.

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

In addition, Friday, a federal judge will examine the possibility of temporarily preventing the tenant of the White House from Limoge Lisa Cook, the governor of the Fed, as she pursues a legal action claiming that Donald Trump has no valid reason to dismiss her from his functions. The values ​​to follow at Wall Street [L8N3UL0DL]

Values ​​in Europe

Ayvens abandoned 3.09% after Citigroup lowered its recommendation on the value to “neutral”.

RATE

American yields are hardly changing on Friday pending important data.

The yield of Treasuries at ten years is advancing from 1.8 base points to 4.2245%. The two years earns 0.2 base point at 3.6372%.

The yield of the German Bund at ten years takes 1.4 base points at 2.7119%. The two years is stable at 1.9356%.

Changes

The dollar is in small increase, but should record a drop of 2% in August compared to the main currencies, bets on a drop in interest rates by the Fed next month intensifying, while concerns concerning threats to the independence of the American central bank persist.

The dollar earns 0.16% against a basket of reference currencies.

The euro lost 0.08% to 1.1673 dollars.

OIL

Oil prices are decreasing 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 loses 0.68% at 68.15 dollars per barrel and light American crude (West Texas Intermediate, WTI) abandons 0.54% to $ 64.25.

Main economic indicators at the agenda of August 29:

Pays GMT indicator previous consensus period

From 12:00 p.m. AUGUST CONSUMPTION PRICES

(Preliminary figures)

– Over one month 0.0% 0.4%

– over one year 2.0% 1.8%

USA 12:30 p.m. Inflation PCE July

– Over one month 0.2% 0.3%

– over one year 2.6% 2.6%

USA 2 p.m. University index of August 58.6 58.6

Michigan on trust

consumers

(Some data may accuse a slight offset)

(Written by Mara Vîlcu, edited by Kate Entringer)

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