Piazza Affari and European stock exchanges are expected to open with a moderate rise. The themes to follow

The first session of the week should start with a moderate rise for Piazza Affari and the main European stock exchanges, in the wake of the substantially positive trend for the Asian markets (Tokyo + 0.56%), pending the monetary policy meeting of the European Central Bank and the US inflation data.

Today’s macro agenda is empty and traders are preparing for the ECB meeting, scheduled for Thursday, and for the update on consumer prices in the US for the month of May, due out on Friday. The persistence of high inflation and fears of an acceleration of monetary tightening are still at the heart of investors’ concerns.

As for the Fed, the market expects rate hikes of half a point in June and July and nearly 200 basis points by the end of the year. In the euro zone, the ECB has indicated that its deposit rate will return to positive territory by the end of September and traders now expect a 125bp hike by the end of the year.