Nov 9, 2023: European stock markets edged slightly higher Thursday in subdued trading, with investors looking to central bank officials for more clues as to whether global interest rates have peaked.
At 03:40 ET (08:40 GMT), the DAX index in Germany traded 0.2% higher, the CAC 40 in France traded 0.4% higher, while the FTSE 100 in the U.K. traded largely flat.
Fed’s Powell to take center stage, again
European equities have seen limited activity Thursday, as investors attempt to decide whether the recent rally was based on solid ground.
Jerome Powell is set to take centre stage once more, with the Fed chair scheduled to speak at another conference later Thursday having offered few cues on monetary policy at a seminar on Wednesday.
He’s not the only major player speaking today though, with Philip Lane, the European Central Bank’s chief economist, and Bank of England Chief Economist Huw Pill both set to comment at separate events.
Confidence has returned to global equity markets, largely based on the hope that the recent pausing in rate-hiking cycles by the Fed, the ECB and the Bank of England suggests that these major central banks are more likely to ease monetary policy as a next move than tighten.
Source Courtesy: Investing.com