European stocks rise supported by expectations of a US interest rate cut next week
European stocks recorded an increase in trading today, Thursday, continuing the recent positive tone, with investors anticipating an expected cut in US interest rates next week, while retail sales data in the euro zone will be released later.
The German DAX index rose by 0.8%, the French CAC 40 rose by 0.7%, and the British FTSE 100 rose by 0.8%. 0.1%.
European stocks moved upward, supported by firm expectations that the US Federal Reserve Board will move to ease monetary policy next week, following the release of weaker-than-expected US economic data.
The private sector jobs (ADP) report showed a slowdown in the pace of employment, and investors are awaiting inflation data according to the Personal Consumption Expenditure Index (PCE) tomorrow, Friday, which may affect expectations of bank decisions. The Federal Reserve.
Close to 90% of traders expect a 25 basis point cut at the December 10 meeting, according to CME’s FedWatch tool.
In Europe, data on construction sector activity in the euro zone is scheduled to be released during the session, but the greatest focus is on retail sales data for October to assess the health of spending. Consumers.
Retail sales are expected to remain stable on a monthly basis, a slight improvement after a 0.1% decline in the previous month.
As for the European Central Bank, which meets later this month, it is unlikely to change interest rates in its last meeting of the year, unlike the US Federal Reserve, which is expected to begin an easing cycle.
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