European stocks seen before the ECB meeting

European stocks could open at highs on Thursday as investors wait for US inflation data and cues from the ECB Policy Council.

US Consumer Price Index data could play a key role in the dollar index and Treasury yield movements, with higher-than-expected numbers adding new feed to the debate over whether inflation is short-term or long-term. May be added.

Meanwhile, the European Central Bank (ECB) is expected to continue its stimulus package despite growing inflationary concerns. The ECB will announce its policy decisions at 1145 GMT, followed by a press conference by ECB President Christine Lagarde at 1230 GMT.

Lagarde may take a balancing act that allows for improvements in economic data, without talking about the tapering of stimuli.

Asian market There was a slight rise while the dollar remained low for nearly five months. Oil prices have fallen as US fuel reserves have increased.

After strong bids and strong demand at the auction, the Treasury yield fell below 1.5% for the first time in a month for 10 years. Bitcoin has made progress as El Salvador became the first country to adopt digital currency as legal tender.

Tensions between the United States and China continued to be watched as the Biden administration lifted the ban on TikTok and WeChat during the Trump era and ordered a review of software applications related to China.

Prior to this weekend’s G7 summit, the United States announced that it would purchase the Pfizer COVID-19 vaccine 500 million times and donate it to 92 low-income countries and the African Union through the global COVAX Alliance.

The draft G7 document has a leader who commits an additional 1 billion people. Coronavirus Bloomberg has announced a vaccine that covers 80 percent of the world’s population.

US stocks fell slightly overnight amid a lack of catalysts to drive the market. The Dow fell 0.4%, the S & P 500 fell 0.2%, and the tech-heavy Nasdaq Composite fell 0.1%.

European stocks ended mixedly as the World Bank warned of global recovery heterogeneity and the UK reported the best daily coronavirus cases since February.

The Pan-European STOXX 600 ended flat with a positive bias. France’s CAC 40 index rose 0.2%, Germany’s DAX fell 0.4%, and the UK’s FTSE 100 fell 0.2%.

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European stocks seen before the ECB meeting

Source link European stocks seen before the ECB meeting

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