European Markets Slip As Investors Watch Inflation

On Monday European markets are set to pull back slightly to begin a week of key central bank meetings and U.S. inflation prints. Britain’s FTSE 100 is seen around 23 points lower at 7,647, Germany’s DAX is set to slide by around 91 points to 14,193 and France’s CAC 40 is expected to shed around 15 points to 6,533, according to IG data.

European Markets Slip As Investors Watch Inflation

European Markets: Global investors will be watching the U.S. consumer price index reading for March on Tuesday and producer price index on Wednesday for indications as to how drastically the Federal Reserve will have to act in order to rein in inflation. Several Fed officials are set to speak on Monday and could further sway European markets momentum later in the day.

U.S. stock futures declined in early premarket trade on Monday as Wall Street comes off a losing week, with U.S. Treasury yields continuing to climb following a Friday jump that saw the benchmark 10-year yield hitting a 3-year high. Earnings season also kicks off stateside this week, with banking giants JPMorgan, Goldman Sachs, Wells Fargo, Citi and Morgan Stanley all due to report.

European Markets
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Chinese markets led losses in Asia-Pacific overnight as investors reacted to higher-than-expected Chinese consumer and producer inflation readings, with the latter surging 8.3% year on year as the country battles to contain its worst Covid-19 wave since the start of the pandemic.

Back in Europe, French President Emmanuel Macron and far-right challenger Marine Le Pen progressed through the first round of voting in the French presidential election and will enter a tightly contested run-off on April 24. A Le Pen victory would be a jolt to France and Europe as a whole, likely offering markets further cause for concern. Investors will also be keeping an eye on developments in Ukraine.

Russia’s invasion of the country has caused volatility in oil and other European markets, which has, in turn, disturbed stocks. European Central Bank policymakers will meet in Frankfurt on Thursday to discuss their next monetary policy move, faced with the tough task of weighing surging consumer prices against downward pressure on economic growth from the war in Ukraine.

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European Markets Slip As Investors Watch Inflation via @marketinvestor
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