European stock markets are moving in a disorienting manner on Wednesday morning, leaving the positive tone of the opening of the trading session and waiting for the latest US consumer inflation (CPI) figures, which have a strong influence on the path of monetary policy. Federal Reserve (Fed, US Federal Reserve). Investors are digesting inflation data from Germany, Europe’s largest economy and China.
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At 6:47 am (East), the pan-European Stoxx 600 index was up 0.01% at 482.76 points.
In the coming hours, the United States will release the October CPI report, which continues to rise as the federal government has already begun to withdraw cash incentives through a process known as tapping.
Overnight, the German CPI’s annual rate reached 4.5% last month, the highest level since 1993. In China, annual CPI reached 1.5% in October, while annual PPI rose to 13.5%. , The highest point in a historical series that began in 1996.
As the global economy continues to recover from the effects of the Govt-19 epidemic, global inflation is accelerating.
The meeting of European Commission President Ursula van der Leyne with US President Joe Biden in Washington is also on the radar today.
For the hour above, the London Stock Exchange was up 0.46%, while the Paris stock was down 0.21% and the Frankfurt stock was down 0.12%. Milan and Madrid gained 0.16% and 0.30% respectively, while Lisbon gained 0.10%.
Elsewhere, the euro weakened to $ 1.1575 from $ 1.1596 yesterday afternoon, while the pound fell to $ 1.3532 from $ 1.3560 yesterday.
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