US Opening

Written on 07/12/2023


Key Global Events

U.S. inflation falls to 3 % year-on-year. On monthly basis 0.2%, up 0.1% from previous figure. Core inflation falls to 4.8%. Positive reading of inflation figure removed from monthly figure.

Bank of England in financial stability report says mortgages could increase by about $500 a month for more than 2 million mortgage holders by 2026.

Jens Stoltenberg, NATO secretary general, announced that Ukraine will become a member of the organization, removing some of the requirements for membership.

Wall Street futures accelerate after the release of the inflation figure heralding an upward start for Wall Street. Dow Jones +0.57%, S&P500 +0.73% and Nasdaq +0.93%.

Acceleration for European stock exchanges. Milan's FTSE MIB +1.26%, Paris' CAC +0.94% Madrid's IBEX +0.87%, London's FTSE +1.58%.

Forex & Commodities

The euro trades at 1.1065 (+0.54%). Sterling gains +0.19%. Oil stabilized above $75. Gold stable around 1947 dollars an ounce (+0.55%).

Index

Asian stock markets traded mixed on Wednesday. Tokyo's benchmark Nikkei 225 index closes down -0.86%. China's Hang Seng index trades around 18,860 (+1.08%).

Global Macroeconomic Data 

US - At 3:45 pm the speech of FED member Kashkari. At 16:30 crude oil stocks will be released. Expected by the end of the day is the Wasde.
EUR - At 15:45 ECB member Lane will give a speech.