CAC 40 Slides Ahead Of Key US Data

RTTNews | 647 days ago
Stocktwits
CAC 40 Slides Ahead Of Key US Data

(RTTNews) - French stocks drifted lower on Wednesday ahead of key U.S. economic data due this week that could sway the Federal Reserve's interest-rate decisions in the coming months.

The release of U.S. ADP private payrolls report may sway sentiment later in the day. The U.S. personal consumption expenditures price index due on Thursday and nonfarm payrolls data on Friday will provide a much clearer picture on inflation and interest rates.

The euro zone inflation report due on Thursday could be key to whether the European Central Bank hikes rates at its September meeting.

Focus also remains on PMI data from China, due on Thursday that will highlight the state of the economy.

Meanwhile, the consumer confidence indicator in the Euro Area has been confirmed at -16 in August 2023, down from -15.1 in July.

The benchmark CAC 40 was down 20 points, or 0.3 percent, at 7,353 after rising 0.7 percent the previous day.

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