US and European stocks rose on Monday as markets focused on central banks and their interest rate decisions at a time when inflation remains high.
The US Federal Reserve System (FRS) is expected to pause interest rate hikes on Wednesday to give policymakers more time to assess the impact of recent interest rate hikes on the economy and banks.
The day after, the European Central Bank (ECB) is almost certain to raise interest rates, continuing its fight against inflation even as the eurozone has slipped into recession.
The Japanese and Chinese central banks are also expected to announce their monetary policies this week. Canada and Australia raised interest rates last week.
The FRS decision will come a day after the release of US consumer price inflation data, which may play an important role in determining the opinion of FRS officials.
Stock prices have largely risen this month on hopes that the US central bank will decide not to raise interest rates this month. Their promotion would be the 11th in a row.
Concerns about a possible recession in the United States, as well as the weakness of the Chinese economy and its possible effects, caused oil prices to fall by about 4% on Monday.
The Dow Jones Industrial Average rose 0.6% to 34,066.33 on Monday, the Standard & Poor’s 500 rose 0.9% to 4,338.93, and the Nasdaq Composite gained 1.5% to 13,461.92 points.
London’s FTSE 100 rose 0.1% to 7,570.69 on Monday, Frankfurt’s DAX rose 0.9% to 16,097.87 and Paris’ CAC 40 rose 0.5% to 7,250. 35 points.
WTI crude oil fell 4.3% to $67.12 a barrel in electronic trading on the New York Stock Exchange on Monday. The price of “Brent” crude oil on the London exchange decreased by 3.9% to 71.84 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF), the price of natural gas fell by 3.16% to 31.04 euros per megawatt hour on Monday.
The euro rose to $1.0762 per euro on Monday from $1.0749 to $1.0762, the British pound fell from $1.2572 to $1.2510 per pound and the dollar rose to 139.40 against the Japanese yen. to 139.56 yen per dollar. The value of the euro against the British pound rose from 85.50 to 86.00 pence per euro.
