by Chiara Di Cristofaro and Chiara Di Michele
Asia closes little changed. Consumer confidence improves in Germany
2′ reading
(Il Sole 24 Ore Radiocor) – Le European stock exchanges they are moving in the name of prudence, in the wake of the caution of Asia and the reversal of course on Wall Street which closed lower in the session on Monday 25 March. After the rally on the eve of the day, Milan is showing greater caution today, with the Ftse Mib moving close to parity, as do the Cac in Paris and the Dax in Frankfurt.
Wait for key inflation data on Friday
While the belief in an interest rate cut in June for the ECB (and probably also for the Fed) increases, prudence seems to prevail among investors this week, awaiting other important macroeconomic data to guide central banks. The key day will be Friday – when the markets will be closed for the Easter holidays – with inflation data from France and Italy, but above all the US PCE deflator, the Fed’s preferred measure. Meanwhile in Germany there has been a slight improvement of German consumer confidence in March. The Gfk index rose to -27.4 from -28.8 points in the previous month (expected 28 points). Geopolitical tensions remain in the background – yesterday the UN resolution for a truce in Gaza was signed – and the terrorism alert is rising.
On the currency market, the euro/dollar exchange rate rises slightly to 1.084 when the euro/yen cross is stable at 164.15 and the dollar/yen is at 151.35. Oil moved little with May Brent in the area of 86.7 dollars a barrel and the WTI at around 82 dollars. Bitcoin continues to rise, reaching 71,329 dollars (+6.76%).
The Tokyo Stock Exchange moved little
The Tokyo Stock Exchange ends trading little changed, with investors looking at the next indications coming from inflation in Japan, in the data expected this Friday. At the close, the Nikkei reference list recorded a slightly negative change of 0.04% at 40,398.03. On the foreign exchange market, the yen is still weak against the dollar at 151.30, and is also losing ground against the euro, at 164.10.
The Chinese stock markets close trading with little movement at the end of a volatile session: the Shanghai Composite index marks an increase of 0.17%, to 3,031.48 points, while that of Shenzhen rises by 0.18%, to 1,752.29. Hong Kong opens in positive territory: the Hang Seng index initially rises by 0.45%, to 16,548.50 points.
On the first day of the week, investors started out cautious due to the increase in international tensions after the attack on Crocus City Hall in Moscow. During the session, however, they gained more confidence and European stock indices ended in positive, with FTSE MIB of Milan (+0.9%) leading the way.
To view this content, open the page on breakinglatest.news
Chiara Di Cristofaro
Expert Radiocor editor