European stock futures just lower; German inflation retreats
Investing.com - European stock markets are expected to open with minor losses Wednesday, ahead of the release of key U.S. inflation data.A degree of confidence has returned to global equity markets this week after the weekend’s shocking events in the Middle East, helped by dovish comments from a few Federal Reserve officials which have fueling hopes the world’s most important central bank is nearing the end of its interest rate increases.
This follows several Fed officials noting that recent rises in longer-term yields may help do the central bank’s work of tightening financial conditions to tackle inflation, meaning fewer interest rate hikes.However, moves are likely to be limited ahead of the latest U.S. inflation numbers, starting later Wednesday with the September
Futures traders are currently putting a nearly 90% probability on the Fed holding rates steady when it meets again in November.While this represents a healthy drop from the prior’s month’s 6.1% annual figure, it’s still considerably above the European Central Bank’s 2% medium term inflation target. The market has calmed down significantly after both crude benchmark contracts rose just over 4% on Monday, but fears remain of political and economic contagion from the fighting ignited by Saturday’s attacks by Palestine militant group Hamas on Israelis in Gaza.
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