US and European Inflation Data Revealed – Markets React, Euro Above 1.08 Dollars, Oil Drops

Finance

Of Stefania Arcudi e Giorgia Colucci

From a central bank perspective, data on US inflation will be published on February 29th and European inflation on March 1st. The Euro remains above 1.08 dollars. Oil drops

2′ reading

(Il Sole 24 Ore Radiocor) – Le European stock exchanges they are moving in the name of prudence, awaiting the American GDP and the inflation numbers (scheduled for Thursday 29 February), crucial for understanding the Federal Reserve’s next moves. The same goes for Eurozone inflation data, due on Friday 1 March, which will be monitored for indications on the timing of future interest rate cuts by the ECB. Since the start of 2024, traders have significantly reduced their bets on short-term reductions in the cost of borrowing. Confidence indices in the Eurozone and Italy are also scheduled for the day.

In this context, the FTSE MIB of Milan is in red. However, the other indices of the Old Continent are on parity.

Euro above 1.08, oil drops

On the currency the euro remains above the threshold of 1.08 dollars (1.0856 the previous close). Declining oil price: April WTI stands above 78 dollars a barrel, Brent of the same maturity at 83 dollars. Instead, it rises natural gas in Amsterdam around 25 euros per megawatt hour.

Focus on BTP Valore on the third day

The focus is on the BTp Valore also on the third placement day. At the end of the previous session, the orders placed by small savers exceeded 4.6 billion euros, reaching 4.611 billion and in the first two days thus exceeded 11 billion. The contracts signed were over 165 thousand.

Asia under pressure for Country Garden

Anonymous session for the Tokyo Stock Exchange which closed trading substantially unchanged while the Chinese stock markets are under pressure due to the crisis of the Country Garden real estate development group, after a creditor of the group in financial difficulty submitted a request for liquidation to a Hong Kong court. The Nikkei index lost 0.08% to 39208.03 points. Sony (0.07%) made little move as it announced the cut of 900 workers working on the PlayStation video game console, a measure that comes after the reduction in annual sales estimates for the Playstation 5. Chinese indices are under pressure.

• Stefania Arcudi

  Radiocor editor

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2024-02-28 08:03:45
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