Key Global Events
After the decreases on the eve, mainly due to the words of the Fed's "hawk" James Bullard, convinced that a rise in interest rates "up to the range between 5% and 7%" would be appropriate, the European stock exchanges are trying to close the week higher, while they wonder about the pace of rate hikes by central banks to curb inflation. Thus Milan's FTSE MIB -0.60% is on the rise, as are Paris' CAC 40 -0.51%, Frankfurt's DAX 40 -1%, Madrid's IBEX 35 -1.06% and the 'AEX -1.02% of Amsterdam. London's FTSE 100 -0.06% was slower, grappling with the new tax plan of the British government.
In terms of macro data, a series of interventions by members of the ECB and the BoE should be reported on Friday 18 November 2022. At 9:30 the one from the governor, Christine Lagarde, is expected, at 14:15 that of Knot (ECB).
Also at 14:15 Mann (BoE) will speak, at 18:15 instead Haskel (BoE). In the US, the October superindex and existing home sales are expected, both due at 4pm. Fitch's judgment on Italy's rating is expected in the evening.
Forex & Commodities
On the currency front, the euro rose slightly to 1.037 dollars, gas stable at 112 euros per MWh, with oil that seems to have arrested its descent: Wti at 882.06 dollars (+0.44 percent).
Index – the Tokyo Stock Exchange finished just below parity with Japan which is dealing with record inflation since 1982, in a context of weakness of the yen against the dollar. The Nikkei lost 0.11% (-1.28% for the whole week) and the Topix index stagnated (+0.04% to 1,967.03 points).
Hang Seng down 0.30%.
Wall Street closed yesterday (S&P500 -0.31% Nasdaq -0.35% and Dow Jones -0.02%).
Key Macroeconomic Data
After the declines on the eve, mainly due to the words of the Fed's "hawk" James Bullard, the European stock exchanges are trying to close the week on the upside.
JAP - a record inflation since 1982, October National General Consumer Price Index (annual) rose 3.6% (consensus 3.5% and prior 3%).
UK – UK retail sales rose 0.6% in October month-on-month and fell 6.1% year-on-year. Both figures beat market expectations.
US – October Existing Home Sales (4:00pm).