CAC 40 Dips With Rate-cut Bets Back In Focus
(RTTNews) - French stocks were subdued on Thursday as softer U.S. consumer inflation data brought Fed rate cuts back into focus.
Closer home, the European Central Bank is widely expected to start cutting interest rates from a record high in June, with economists expecting up to three rate cuts this year.
The benchmark CAC 40 was down 30 points, or 0.4 percent, at 8,209 after closing 0.2 percent higher in the previous session.
The dollar was on the back foot while U.S Treasury yields sank to six-week troughs ahead of speeches by several Federal Reserve officials later in the day.
Banks BNP Paribas, Credit Agricole and Societe Generale were down around half a percent each.
Automaker Renault was down 0.6 percent.
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New Zealand Performance Of Services Index Improves To 46.0 - BusinessNZ
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Canadian Market Settles Lower; TSX Sheds 0.6%
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Dollar Turns In Mixed Performance Against Major Counterparts
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Canadian Shares Notably Lower
The Canadian market is down in negative territory Friday afternoon with stocks from several sectors reeling under sustained selling pressure amid uncertainty about U.S. interest rate cuts after dovish comments from Fed Chair Jerome Powell.
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Swiss Market Ends Lower On Growth Concerns
Swiss stocks tumbled on Friday, weighed down data showing a slowdown in growth, and uncertainty about Fed interest rate cuts following hawkish comments by the central bank chair Jerome Powell.
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U.S. Dollar Strengthens After Strong Retail Sales Data
The U.S. dollar climbed against its most major counterparts in the New York session on Friday, following the release of the latest batch of economic data, including a Commerce Department report showing retail sales increased by slightly more than expected in October.
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European Stocks Close Lower On Rate Cut Uncertainty, Growth Concerns
European stocks closed lower on Friday, weighed down by concerns about the outlook for U.S. interest rate cuts following Federal Reserve Chair Jerome Powell's hawkish comments. Disappointing economic data from China weighed as well.
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