Milan – European stock markets are developing positively. All eyes in the operating room are on Jackson Hole, Wyoming, site of the Central Bank Symposium He will speak at 4 p.m. Italian time Jerome Powell This is one of the most anticipated speeches in the financial world in recent years. He will have to explain that the Fed is ready to lower interest rates, which are now at their highest level in more than 20 years, but everyone will try to read into his words any signals about the size, timing, and speed of the reduction.
Traders are pricing in a quarter-point rate cut at the Sept. 17-18 meeting but are anticipating a reduction of nearly a full percentage point by the end of the year.
The European Central Bank is also in danger. The figures for the reduced wage race are likely to be cut in September and October Martin Kazak Member of the Governing Council, “Given the data we currently have, I am very willing to discuss another rate cut in September”: for Latvians, this statement is very “dovish”.
Watching other frequency waves is Japan, where annual inflation rose to 2.7% in July from 2.6% the previous month. Kazuo Ueda In its first public appearance in parliament after the market crash earlier this month, the Bank of Japan said it would still raise rates if macro data continued to meet its forecasts: “If we become increasingly certain that the economy and prices will move in line with our forecasts, our stance of continuing to adjust the degree of easing will not change.”
Major European stock markets opened higher on the last trading day of the week, awaiting a speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole Central Bankers Symposium. In the first minute of trading, Piazza Affari rose 0.35% to 33,426 points, while Frankfurt opened up 0.21%, Paris rose 0.17% and London rose 0.25%.
Japan’s Nikkei rose 0.4% to 38,364.27 as positions may be adjusted ahead of Powell’s speech, analysts said. Even comments from Bank of Japan Governor Ueda confirming the interest rate line will reassure operators. The broader Topix index also performed well, rising 0.50% to 2,684.72. Among the gainers, Asics rose 3.8%, Taisei rose 3.7% and Orix rose 3.3%.
Asian stock markets remained mixed. Towards the end of the trading day, Tokyo’s Nikkei remained in the black, up 0.35%. However, Hong Kong stocks fell 0.34%. Shanghai fell 0.06%. Shenzhen, on the other hand, rose 0.14%. The Seoul Composite Index was almost flat at +0.02%.