by Chiara Di Cristofaro and Paolo Paronetto
Investors point to a slowdown in consumer prices. The data is crucial for predicting the Fed’s next moves
2′ of reading
(Il Sole 24 Ore Radiocor) – The European stock markets move uncertain about the direction to take, in a session characterized by the expectation for the publication of the data on US inflation for March. Investors are expecting a slowdown in consumer prices, so much so that according to Goldman Sachs analysts, the S&P 500 would come to lose more than 2% in case of a reading higher than 6% in the previous month. This figure will be crucial for understanding the Fed’s future strategy: at the moment, Fed Funds futures consider a 25 basis point rate hike probable at the May meeting at 68.8%, while at the next meeting (June 14) the maintenance of the status quo (63.7%), a sign that the markets consider the end of the restrictive monetary policy cycle to be near.
Tokyo Stock Exchange rises by 0.6% in anticipation of US inflation
The Tokyo Stock Exchange closed higher, where optimism prevailed in view of the publication, in the afternoon, of the data on US inflation updated for the month of March which could guide the Fed’s next monetary policy moves. At the end of the session the Nikkei index recorded a gain of 0.6%, with a last position at 28,082.70 points. The performance of stocks in the mechanical and real estate sectors was above all driving the list. The broader Topix Index also performed well, closing trades at 2,006.28 points, up 0.73% on the previous reference.
Yields on two-year Treasuries hold above 4%, while in the currency market the euro changed hands at $1.0920 from $1.0912 at yesterday’s close. The single currency is also worth 146.03 yen (from 145.75), while the dollar/yen ratio is at 133.71 (133.56). The price of oil rose slightly: WTI delivered in May rose by 0.25% to 81.73 dollars a barrel, while Brent for June gained 0.2% to 85.78 dollars. Natural gas on the Amsterdam TTF platform fell by 0.4% to 43.5 euros per megawatt hour. Finally, on the cryptocurrency front, Bitcoin defends the $30,000 mark, surpassed yesterday for the first time in 10 months.
To view this contentopen the page on breakinglatest.news
-
Paolo Paronetto
Radiocor editor
-
Clare Di Cristofaro
Radiocor editor
View on breakinglatest.news