MILANO – 9:30 am. Starting with a cautious rise on the European stock markets, waiting for the President of the Federal Reserve at 8 pm Italian time, Jerome Powell, explain the outcome of the two-day meeting of the FOMC, the monetary policy arm of the American Central Bank, and give the update of the economic forecasts. With prices showing strong growth (+ 5% annually in May), bankers have so far been able to label these dynamics as “temporary”. But if investors do not fear changes in the short term, some indications on future moves could arrive today and then turn into certainty between the Jackson Hole symposium (in August) and the next meeting in September.
Milano marks a gain of 0.15% in the early stages with the energy sector in the positive. The best is London which adds 0.3%, while Paris 0.25% salt e Frankfurt 0.15%.
Yesterday, sitting down a Wall Street, after Monday’s record closures for the S & P500 and Nasdaq: yesterday the record increase, on an annual basis, in producer prices came on the one hand, up 6.6%, against expectations for 6.2%. And the data on retail sales was also published, which fell by 1.3% to 620.2 billion dollars. The S & P500 was down 0.2%, the Nasdaq 0.71%. In the morning, the stock exchange Tokyo closed down 0.51%.
Waiting for Powell’s words, theeuro opens slightly above $ 1.21. The single currency changes hands for 1.2129 dollars and 133.51 yen. Dollar / yen at 110.07. Little movement also on the front of government bonds: spread between BTP and Bund it opens slightly up to 102 basis points and the Italian ten-year yield stands at 0.79%.
The prices of the Petroleum they rose again, to their highest levels in over two years, on the Asian markets, with Brent advancing for the fifth consecutive session exceeding $ 74, supported by the decline in inventories and the recovery in demand that encourages investors. North Sea crude rose 0.9% to $ 74.65 a barrel, a top since April 2019, while WTI rose 0.8% to $ 72.70 a barrel, hitting its highest since October 2018.
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