Europe Market Open: Softer than expected Chinese CPI into US CPI & the FOMC
12/6/2024
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- APAC stocks were mostly subdued after the mixed handover from US peers as markets braced for the incoming US CPI data and the FOMC announcement.
- Chinese inflation data saw softer-than-expected CPI and a narrower deflation in factory gate prices but with little follow-through to markets.
- Israel said it received the Hamas response to the ceasefire proposal via mediators and that Hamas changed the proposal's main parameters.
- Fitch Ratings said France's snap election heightens fiscal and reform uncertainty but there are no immediate implications for France's AA-/Stable rating.
- European equity futures indicate a mildly positive open with Euro Stoxx 50 futures up 0.2% after the cash market closed down 1.0% on Tuesday.
- Looking ahead, highlights include German HICP (F), UK GDP Estimate, US CPI, Fed Policy Announcement, IEA OMR Comments from ECB’s Schnabel & de Guindos, Fed Chair Powell & BoC Governor Macklem, Supply from UK & Germany, Earnings from Broadcom.
- Click for the Newsquawk Week Ahead.
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