The main European stock exchanges, including Piazza Affari, should open in positive territory, in an attempt to rebound from yesterday’s declines (the Ftse Mib index closed at -1.35% at 25.605 points) in the wake of Wall Street. The hope of a temporary compromise in Washington to ward off the risk of US default and falling energy prices is supporting the exchanges.
US traders were reassured by hopes of a temporary Senate deal that would allow the US to avoid defaulting this month and stave off the specter of a financial crisis after Democrats said they were in favor of accepting an offer. Republican to suspend the debt ceiling until December.
Markets are also expected to be underpinned by falling oil and natural gas prices, whose sharp rises in recent days have fueled fears of inflation spikes and faster-than-expected central bank interventions to reduce their support measures. .
In addition to inflation, the evolution of the US labor market is an essential parameter in the monetary policy of the Federal Reserve. The publication of tomorrow’s Department of Labor monthly employment report will, as always, be very popular. Results from the monthly ADP survey yesterday showed significantly higher than expected private sector job creation numbers. Meanwhile, the claims for unemployment benefits in the United States from last week will be released today, which could animate the afternoon session.
Among the other macro events of today, we point out the retail sales in Italy, which will give an insight into the trend of domestic consumption. Speeches by Holzmann, Lane, Schnabel (ECB), Mester (Fed) and Kuroda (BoJ) are also scheduled. Still on the subject of central banks, today the ECB will publish the minutes of the monetary policy meeting in September.