Fed Fears Drag CAC-40
(RTTNews) - The CAC-40 tracked a general cautious mood ahead of the Fed's interest rate review later in the day. Markets anticipate the Fed to raise rates by 50 basis points and also fear the Fed would hint at a higher peak for interest rates.
Meanwhile, data showed Industrial production in the Euro Area slumping 2 percent in October versus a downwardly revised 0.8 percent growth in September and consensus estimates of a 1.5 percent fall.
The CAC-40 is currently trading at 6,695.86, down 0.73 percent from the previous close. The day's trading has been between 6,694.33 and 6,733.85.
Only TotalEnergies and Stellantis are trading in the green zone.
Carrefour and ArcelorMittal have both declined close to 4 percent.
More than 10 scrips have declined more than 1 percent.
The EUR/USD pair is at 1.0664, gaining 0.32 percent overnight whilst the US Dollar Index dropped 0.25 percent to 103.72.
Ahead of the impending monetary policy reviews, the ten-year bond yield has increased 2.68 percent to 2.454% versus the previous close of 2.390%.
The pan-European STOXX 600 is currently trading at 439.92, down 0.61 percent on an overnight basis.
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