CAC 40 Gains Ahead Of Upcoming ECB And Fed Meetings
(RTTNews) - French stocks advanced on Monday after U.S. Treasury Secretary Janet Yellen said that the U.S. economy remains strong and that recent months of cooler jobs data is a signal of a soft landing, not a recession.
The focus now shifts to the August inflation data due this week and the Federal Reserve's policy meeting on September 17 and September 18.
The U.S. Labour Department will release the consumer price index early Wednesday and the producer price index before Thursday's open. Tame readings could give policymakers ammo for making a 50-bps rate cut on Sept. 18.
Closer home, the governing council of the European Central Bank will meet on Thursday and it its widely expected that the board will reduce interest rates for the second time this year.
The benchmark CAC 40 was up 38 points, or half a percent, at 7,390 after declining 1.1 percent on Friday.
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