Key Global Events
European stock markets open the session higher (Milan's Ftse Mib +0.4%, Dax +0.5% and Madrid's Ibex +0.20%) on Wednesday 30 November, waiting for a day in which the focus will be on inflation of the Eurozone to be released at 11:00 am and after a weak close on Wall Street and Asian markets choppy due to industrial production in China well below expectations. However, investors are looking positively at Beijing's plan to support vaccinations especially in the older segment of the population, a fact that fuels hopes for the end of the lockdowns in the country.
The day opens full of appointments, even if the attention of investors is focused on the speech by the governor of the Fed, Jerome Powell, on the economy and the labor market, expected in the evening.
But as mentioned, attention always remains high on price trends, which condition the choices of central banks. Today will be the turn of the November consumer price numbers from the Eurozone, after French data recorded substantial stability in November (+6.2%). Expectations are for a reduction in the cost of living even today: if this were the case, the markets could begin to hope for a slowdown in rate hikes by the European Central Bank. Markets welcomed (albeit lukewarmly) the decline in inflation in Germany and Spain on Tuesday.
Forex & Commodities
In terms of exchange rates, the euro is stationary at 1.0345 dollars (+0.16%). It also changes hands at 143.34 yen, while the dollar-yen stands at 138.46 (138.35).
The pound against the dollar at 1.1961 (+0.08%).
Oil rising again to 78.4, WTI up by almost one percentage point and Brent to $84.8 (+0.70%).
Index – Asian stock exchanges fluctuated, Shanghai (+0.05%), Hang Seng +2.31% and Tokyo's Nikkei down 0.21%).
Wall Street Futures Mixed As mixed were yesterday's closes, only the Dow Jones closed above par.
Key Macroeconomic Data
European stock markets open the session up (Milan's Ftse Mib +0.4%, Dax +0.5% and Madrid's Ibex +0.20%).
China – Manufacturing PMI below expectations at 48 points (expected 49) then below the threshold of 50 which highlights the expansion phase.
EU – Today will be the turn of the November consumer price numbers for the Eurozone, after French data recorded substantial stability in November (+6.2%).
Employment change in Germany (09:55). E GDP and inflation in Italy (10:00).
US - at 14:15 the ADP estimate for new jobs in the private sector in November will be released.
The second reading of the third quarter GDP is also scheduled, as well as the Chicago PMI for November, the Jolts report on job vacancies for October, and finally, the intervention of the chairman of the Federal Reserve is scheduled , Jerome Powell, as well as the publication of the Beige Book.