Share:

'Following slowing eurozone inflation European stock indices begin the last month of the year on a positive note' says Axel Rudolph, Senior Market Analyst at online trading platform IG.

Around 125 basis point ECB rate cut now seen in 2024

“Weaker-than-expected eurozone inflation has led to repricing with European yields dropping to multi-month lows as traders price in around 125 basis point ECB rate cuts in 2024. Since Wednesday's three month high, the euro has given back around 1.5% versus the greenback and other crosses. The German DAX 40 rallied by close to a percentage point, French and Italy's indices by around half that with the FTSE 100 for once being the outperformer with gains of over a percent."

US stock trade lower ahead of Powell speech

“Disappointing US factory activity pushed US equity indices slightly lower ahead of a speech by the Fed Chair Jerome Powell. While the US dollar regained some lost ground, the gold price briefly touched a new seven-month high as the oil price flatlined post Thursday's OPEC+ meeting."

Share: Feed news

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

AUD/USD prints slight gains post-FOMC minutes, mixed Aussie PMIs

AUD/USD prints slight gains post-FOMC minutes, mixed Aussie PMIs

The Australian Dollar posted minuscule gains on Wednesday against the US Dollar, after the release of the Federal Reserve’s January meeting minutes emphasized policymakers remain hesitant to begin to ease policy. Therefore, the pair exchanges hands at 0.6550, down by 0.02% as the Asian session begins.

AUD/USD News

EUR/USD drifts into Wednesday's top end after Fed Minutes, markets pivot to PMI wait

EUR/USD drifts into Wednesday's top end after Fed Minutes, markets pivot to PMI wait

EUR/USD drifted into the midrange before a late break into the high side on Wednesday after the US Federal Reserve (Fed) published its latest Minutes which showed policymakers continue to remain focused on downside risks.

EUR/USD News

Gold price hovers around the 50-day SMA as traders eye flash PMIs

Gold price hovers around the 50-day SMA as traders eye flash PMIs

Gold price is virtually unchanged after the US Federal Reserve released January’s meeting minutes, which reassured market participants that the Fed is in no rush to cut rates in the near term.  The XAU/USD trades within the $2020-30 range.

Gold News

Bitcoin price likely to fall but MicroStrategy’s $12 billion market cap makes it a possible S&P 500 candidate

Bitcoin price likely to fall but MicroStrategy’s $12 billion market cap makes it a possible S&P 500 candidate

Bitcoin price consolidation continues to stretch but steadily leans in favor of the downside. This is expected as markets tend to not wait that long. Meanwhile, Michael Saylor’s firm MicroStrategy is making headlines with a possible listing in the S&P 500.

Read more

Nvidia Stock Earnings: NVDA Q4 results trounce consensus

Nvidia Stock Earnings: NVDA Q4 results trounce consensus

Nvidia beat earnings consensus from Wall Street by a large margin on Wednesday, and the stock jumped more than 3% afterhours. Consensus had been $4.64 in adjusted EPS for the quarter ending in December, but Nvidia posted $5.16.

Read more

Forex MAJORS

Cryptocurrencies

Signatures