MILANO – Investors are once again mulling over the American inflation data (+ 7% in December, top since 1982) which, although in line with expectations, nonetheless give substance to the possibility that the Fed must accelerate the rate hike to hold prices under control. Yesterday evening the Wall Street stock market closed slightly higher, while today the performance of the Asian markets and that of futures on Europe is oriented towards weakness.
The president of the Philadelphia Fed, Patrick Harker, does not rule out, if necessary, more than three interest rate hikes in 2022, starting in March. In an interview with Financial Times, Harker said he would support “three interest rate hikes this year” and would “start in March”. And he added: “I would be open to others if necessary”. As for the 7% annual jump in US inflation in December, the Fed exponent called the figure “very high and very bad”.
Negative session for the Asian stock exchanges, where inflationary pressures are generally more contained than those of the main Western economies. Tokyo closed down by 0.96%, Hong Kong moves back by 0.20% e Shanghai yields more than 1%. Negative too Only which loses 0.35%. The data on the slowdown in lending by banks in mainland China during the month of December also weighed on Asian trade, without however preventing 2021 from closing as a record year for this item.
Among currencies, theeuro opens slightly above $ 1.14. The single currency changes hands at 1.1443 dollars and at 131.15 yen. The greenback loses ground after inflation data in line with expectations. Dollar / yen at 114.62.
Finally, among raw materials, the start of the day was down due to the prices of Petroleum after the rises of the eve. WTI crude is down 0.24% to 82.44 dollars a barrel. Brent also fell, losing 0.22% to 84.47 dollars a barrel. Stable departure for the prices oforo. The precious metal changes hands at 1,824.9 dollars an ounce with a fractional variation (-0.07%) on the values of the day before.
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