CAC 40 Extends Gains As Inflation Worries Ease

RTTNews | 847 days ago
Stocktwits
CAC 40 Extends Gains As Inflation Worries Ease

(RTTNews) - French stocks opened higher on Tuesday as Prime Minister Elisabeth Borne said that inflation was expected to peak at the start of 2023 before retreating.

"We will have a peak at the beginning of the year and then it's going to decline," Borne told Franceinfo radio.

On a light day on the economic front, investors await German inflation data later in the day for clues on the outlook for rates.

Germany's consumer price inflation is forecast to ease to 9.1 percent from 10.0 percent in November.

Further policy action is needed to curb expectations of future price rises, European Central Bank Governing Council member Joachim Nagel said in an interview with the Zeitschrift für das gesamte Kreditwesen published on the Bundesbank website.

The benchmark CAC 40 was up 31 points, or half a percent, at 6,625 after climbing 1.9 percent on Monday.

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Yen Rises Ahead Of BoJ Monetary Policy Meeting

Yen Rises Ahead Of BoJ Monetary Policy Meeting

The Japanese yen strengthened against other major currencies in the Asian session on Tuesday, as traders await the Bank of Japan (BoJ) monetary policy decision due this week.
RTTNews | 2h 8min ago
German Consumer Sentiment Set To Continue Recovery: GfK

German Consumer Sentiment Set To Continue Recovery: GfK

German consumer confidence is set to continue its recovery in May as trade tariff hikes by the US administration had a limited impact, a closely watched survey showed Tuesday. The forward-looking consumer sentiment index improved unexpectedly to -20.6 in May from revised -24.3 in the previous month.
RTTNews | 2h 9min ago
Commodity Currencies Rise Amid Risk-on Mood

Commodity Currencies Rise Amid Risk-on Mood

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as traders remain optimistic and keep a close eye on developments on the tariff front, with U.S. Treasury Secretary Scott Bessent reportedly said he believes an agreement in principle can reached on "17 or 18 important trade deals" the administration is currently negotiating.
RTTNews | 2h 49min ago
European Economic News Preview: Eurozone Economic Sentiment Due

European Economic News Preview: Eurozone Economic Sentiment Due

Economic sentiment and monetary aggregates from the euro area and consumer sentiment from Germany are the top economic news due on Tuesday. At 2.00 am ET, the market research group GfK publishes German consumer sentiment survey results. The confidence index is forecast to fall to -25.6 in May from -24.5 in April.
RTTNews | 3h 47min ago
NZ Dollar Advances Against Majors

NZ Dollar Advances Against Majors

The New Zealand dollar strengthened against most major currencies in the Asian session on Tuesday. The NZ dollar rose to a 4-day high of 0.5987 against the U.S. dollar, from yesterday's closing value of 0.5971.
RTTNews | 3h 58min ago
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