Wednesday, January 19, 2022

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    European stocks rise despite concerns about rate hikes

    European stocks are expected to open steadily on Monday, despite fears that the Federal Reserve will raise interest rates in March.

    US employment on Friday showed stronger wages than expected, raising the prospect of a faster rate hike than expected.

    Asian stocks traded mixed with Shanghai and Hong Kong market Rising after the China Securities Regulatory Commission announced that it would take various steps to avoid volatility and “certainly” prevent major fluctuations. The Japanese market was closed due to a holiday.

    As the variants of Omicroncovid-19 continue to prevail rapidly, cautious undertones are prevalent. The discovery of a new strain that combines Delta and Omicron is also drawing attention.

    The dollar index was flat and 10-year Treasury yields were close to the last highs seen in early 2020, but Kazakhstan’s largest oil venture, Lake Tengiz, is gradually normalizing production. Oil was traded flat in response to the report.

    Eurozone unemployment will be announced later in the session. Across the Atlantic, this week’s transactions could be affected by consumer and producer price inflation, retail sales, and reaction to reports on industrial production.

    There are testimonies and speeches by several Fed officials throughout the week.

    A second Senate Banking Commission confirmation hearing by incumbent Federal Reserve Chairman Jerome Powell will take place on Tuesday, and a hearing of vice-chairman candidate Lael Brainard will take place on Thursday.

    Elsewhere, China will release consumer and producer price inflation data on Wednesday.

    US stocks fell almost on Friday as December employment reports pushed Treasury yields to highs during the pandemic era. The unemployment rate was weaker than expected, but fell from 4.2% in November to 3.9% in December.

    The Dow ended with a flat note, but the S & P 500 fell 0.4% and the Nasdaq Composite fell 1%, expanding losses in four consecutive sessions.

    European stocks fell sharply on Friday’s session due to disappointment in Germany’s industrial output data, eurozone inflation hit a record high in December, and NATO’s top diplomats gathered to bring Russia near Ukraine. Discussed the military buildup of.

    The Pan-European STOXX 600 fell 0.4%. Germany’s DAX fell 0.7%, France’s CAC 40 index fell 0.4%, while the UK’s FTSE 100 rose 0.5%.

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    European stocks rise despite concerns about rate hikes

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    The post European stocks rise despite concerns about rate hikes appeared first on Eminetra.

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