CAC 40 Rebounds In Cautious Trade
2024-06-26
1462
(fxcue news) - French stocks rose on Wednesday following a tech rally on Wall Street overnight.
The benchmark CAC 40 was up 27 points, or 0.4 percent, at 7,689 after declining 0.6 percent on Tuesday.
The euro extended declines against the dollar after a survey showed German consumer confidence is set to worsen in July.
Hawkish comments from Fed officials also benefited the dollar.
Federal Reserve governor Michelle Bowman has warned of upside risks to the inflation outlook and reiterated the need to keep borrowing costs elevated "for some time".
Her counterpart Lisa Cook said that the timing of any rate adjustment will depend on how economic data evolve and what they imply for the economic outlook and balance of risks.
Amid much uncertainty about the interest-rate outlook, investors braced for the release of key U.S. inflation reading, due later this week for further direction.
Eurozone bond yields continued to advance due to political uncertainty resulting from changes in the partisan landscape in the region.
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