MILANO – Session down for the European stock exchanges. Investors are evaluating mixed signals: on the one hand, the monetary tightening implemented by central banks to counteract the cavalcade of inflation and the Chinese reopening with the easing of anti-COvid measures that should give a new boost to the country’s economy. benefit of global growth. However, no encouraging indications arrive from Europe in the morning: industrial orders in Germany are down, registering in April a decline of 2.7% on the previous month and of 6.2% on the same month last year.
Europe ends with a minus sign, with Milano which yields 0.81%. TO London the Ftse 100 loses 0.67%. TO Paris the Cac 40 falls by 0.74% and in Frankfurt the Dax falls by 0.67%. In Asia, the indices moved in a mixed way and a Tokyo the Nikkei closed trades at + 0.1%.
Among the currencies, the euro closes at the level of 1.07 dollars, pending the meeting of the ECB scheduled for Thursday. At the opening, the exchange rate was at 1.0695 dollars. The yen tumbled further, trading at levels not seen against the dollar for 20 years and against the euro for 7 years, weighed down by the divergence in monetary policy between the Bank of Japan (BoJ) and other central banks. The dollar / yen is at 132.46 after falling to 133 yen, a level not seen since April 2002. The euro / yen is at 141.74 after reaching 142.06 yen, the lowest since January. 2015.
The dollar cools and the Fed bankers don’t see it clearly
by Giovanni Pons
06 June 2022
On the commodities front, the price of oil is advancing in New York. In the afternoon, prices rose by 1.5% to 120.12 dollars a barrel. The price of gas updates pre-war lows and travels down 2.9% to € 80.2 per megawatt hour after briefly falling below the € 80 threshold.