US stocks opened with small gains on Thursday, although it didn’t look all that convincing. As I write this little comment, the US S&P 500 is already hovering around zero. U.S. producer prices appeared to have risen, although the increase was smaller than estimated. At least the latest such data has not brought bad news on the inflation front.
At the end of the day, European shares were also in red territory, where the main focus was on the meeting of the European Central Bank (ECB).
The main bankers of the old continent did not touch the euro rates today. This was largely expected. It seems that the ground is being prepared for a rate cut in the euro in June. It can also be counted among the generally expected for some time.
The management of the ECB is trying to pretend that it is not affected by everything that is happening around US interest rates. There is some concern that the ECB may also have to wait with lowering rates in the end. If the ECB cuts euro rates aggressively, it could mark a very sharp divergence of monetary policy with (and risks from) the US. In such a scenario, for example, the parity of the euro and the US dollar looks quite plausible.
Baltic shares were slightly lower today. The most active trading today was with the shares of Šiauliu banka, Ignitis group and TKM Grupp. The share price of all these companies fell.
2024-04-11 19:23:08
#11.04.2024 #Bets #affected #European #stocks #fall
