(CercleFinance.com) – European markets are starting to feel depressed (-1.5% in London, -2% in Frankfurt, -2.1% in Paris) for a week including the meeting of the Fed’s monetary policy committee ( FOMC) in the United States should be the high point.
“Given that price pressures in the United States show little sign of easing, we doubt that the Fed will ease off anytime soon”, Capital Economics warned Friday evening, after the announcement of record inflation at 8 .6% on an annual basis for May.
“It is becoming more and more obvious that the central bank started its reversal of monetary policy too late”, reacted for its part Commerzbank, for which “the era of large rate hikes of 50 basis points is far from over. gone’.
The week also promises to be rich in US macroeconomic data, with, for example, producer prices, retail sales, industrial production and the Conference Board’s leading indicators for the month of May.
On this side of the Atlantic, the ZEW index of economic sentiment in Germany should appear these days, as well as the latest inflation data for the past month in the euro zone.
In the meantime, it should be noted that in the United Kingdom in April, industrial production fell by 0.6% compared to the previous month, but that the trade deficit narrowed to 20.6 billion pounds sterling thanks to a jump in exports.
In securities news, ING dropped 3% in Amsterdam after a presentation in which the bank announced its objectives for the period 2022-25, including a return on equity of 12% in 2025.
In Paris, Valneva plunged by almost 25%, the company having warned that the preliminary volume indications received from Brussels for its candidate vaccine against Covid-19 would not be sufficient to ensure the sustainability of the program.
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