Home » Subdued final in Piazza Affari, expectations for core PCE USA and CPI EU

Subdued final in Piazza Affari, expectations for core PCE USA and CPI EU

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Subdued final in Piazza Affari, expectations for core PCE USA and CPI EU

A contrasting day for European stock markets, in a climate of anticipation for the key events in the coming days. The Ftse Mib ends down 0.3% at 32,617 points, with Ferrari (+1.4%), Prysmian (+1.3%) and Brunello Cucinelli (+1.25%) in the lead while Nexi (+1.25%) loses ground -3.5%), Campari (-3.4%) and Stm (-3.2%).

Tomorrow the core PCE for January will be released, one of the metrics monitored by the Fed for its monetary policy decisions, while on Friday (in addition to the Chinese PMIs) the report on consumer prices in the Eurozone will be published, to be read from an ECB perspective.

European data on economic confidence were released during the day, decreasing to 95.4 points in February, while in Italy consumer sentiment rose to 97 points and business sentiment fell to 95.8 points.

The second reading of American GDP in the fourth quarter revised growth from 3.3% to 3.2% annualized, but the quarterly core consumer spending index recorded +2.1%, compared to +2% previously .

On bonds, the BTP-Bund spread fluctuates around 143 bp, with the yield on the Italian ten-year bond at 3.89% and that of the Bund at 2.46%. In Italy, meanwhile, the third day of placement of the BTP Valore has ended, with over 3 billion acceptances after the 11 billion of the first two days.

Among commodities, Brent oil is hovering around $82 a barrel, after weekly Energy Information Administration data on U.S. inventories showed growth in crude reserves.

On Forex, the euro/dollar exchange rate was little changed at 1.083 and the dollar/yen strengthened at 150.75 yen per dollar.

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Meanwhile, the Bitcoin rally continues unabated, having surpassed $61,000.

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