Europe Market Open: Stocks seen opening slightly softer after hawkish Fed dots

• APAC stocks were somewhat mixed following the key developments stateside where the S&P 500 and Nasdaq extended to fresh record levels following the softer-than-expected US CPI but despite the hawkish Fed dot plots.
• Fed kept rates unchanged at 5.25-5.50%, as expected with the vote unanimous, while the statement noted there has been modest (prev. a lack of) further progress towards the 2% inflation objective.
• Fed’s updated dot plots now signal only one rate cut in 2024 vs. three in the March projections; four policymakers saw no rate cuts this year, while seven pencilled in just one cut and eight expect two rate cuts this year.
• BoJ will reportedly consider gradually reducing its Japanese government bond holdings at this week's two-day policy meeting, according to Nikkei.
• European equity futures indicate a mildly softer open with Euro Stoxx 50 futures down 0.1% after the cash market closed up 1.4% on Wednesday.
• Highlights include German Wholesale Price, Swedish Inflation, EZ Industrial Production, US IJC, PPI (F), NZ Manufacturing PMI, Comments from ECB’s de Guindos, BoC’s Kozicki & Fed’s Williams, Supply from Italy & US, Earnings from Adobe.

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