Sitting in strong rise for the European stock exchanges, on the day of the Fed. In fact, the expectation is rising for the indications that the will give American central bank on the conduct of monetary policy, at the end of the two-day FOMC meeting. There will also be the usual press conference of the number one, Jerome Powell, which is essential to understand whether the central institution will proceed to three or even four increases in the cost of money in the course of 2022, as already taken into account by numerous analysts and even by some Fed bankers. inflation in recent months it has risen to 7%.
Meanwhile, futures on Wall Street are also positive after the sharp decline on the eve of the day, especially at the Nasdaq level (-2.3%), after a failed recovery attempt during the session. Meanwhile, the delicate situation in Ukraine, with skyrocketing tensions between the US and Russia. It goes on at full speed there quarterly season: Overseas, after the publication of the issues of Microsoft, those of Tesla, tomorrow those of Apple. American futures are positive.
Stellantis runs in Milan, sales on Recordati. Fly Tod’s
At Piazza Affari, investors are also following the election of the new President of the Republic, on which the fate of the Prime Minister, Mario Draghi, as well as of the current government may also depend. All the blue chips are on the rise: the banks are running with Unicredit in progress in view of the 2021 accounts that will be announced on Friday. Stmicroelectronics are also doing well, both in anticipation of the 2021 accounts, also scheduled on Friday, and after the positive indications released by the US competitor, Texas Instrument. Stellantis’ performance also stands out, pushing Exor up too. Ferrari is more cautious than the Agnelli galaxy as it awaits the 2021 numbers to be announced on February 2. Telecom Italia is also undertone on the day when the number one, Pietro Labriola, presents the projects he has in mind for the group to the board of directors. Finally, Recordati and Pirelli & C are in contrast. Outside the main basket, Eprice and Tod’s are still in the running, the latter after the publication of the 2021 turnover, which was above expectations.
The euro remains weak, the dollar continues to rally
The euro remains weak and retreats close to the lows of the year reached on Tuesday against the dollar, under pressure from the markets which see the likelihood of the Fed accelerating monetary tightening increasing. This prediction could become a reality as early as the evening if the US central bank provides further advice on tightening policies. “This could create margins for further gains of the dollar against the euro – say the analysts of ActivTrades – while the tensions in Ukraine could amplify the weakness of the single currency, favoring the dollar and the yen”.