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CAC 40 Tumbles On US Rate Hike Fears
(RTTNews) - French stocks fell sharply on Monday as investors braced for a slew of central bank decisions this week.
The Federal Reserve meets on Wednesday while the Bank of England (BoE) and the Swiss National Bank (SNB) will announce their monetary policy decisions on Thursday.
The Bank of Japan is also meeting on Thursday with no change in interest rates expected.
As inflation worries mount, it remains to be seen whether the Fed will be forced to raise rates by 100 bps at the end of a two-day policy meeting on Wednesday.
The clamor for a 100-basis point rate hike is getting louder every day.
The benchmark CAC 40 was down 64 points, or 1.1 percent, at 6,013 after declining 1.3 percent on Friday.
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Sensex, Nifty Close On Buoyant Note
Despite a sharp setback early on in the session and a subsequent volatile spell during which the market climbed higher but faltered again, the Indian stock market closed on a firm note on Thursday.
Recent soft inflation data from Indian and the U.S., and the progress in U.S.-China trade talks contributed significantly to market's rise.
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Weak Sentiment In Asian Markets
Sentiment in Asian markets remains subdued as markets digested the latest actions on the trade tariff front.
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Commodity Currencies Slide, Yen Rises Amid Cautious Trade
The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Thursday, as traders remain cautious amid continued uncertainty surrounding U.S. President Donald Trump's trade policies, despite reaching trade deals between the U.S. and China as well as the U.S. and the U.K.
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Canadian Dollar Drops Against Majors
The Canadian dollar weakened against most major currencies in the Asian session on Thursday.
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NZ Dollar Slides Against Most Majors
The New Zealand dollar weakened against most major currencies in the Asian session on Thursday.
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Australian Dollar Falls Against Majors
The Australian dollar weakened against other major currencies in the Asian session on Thursday.
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Yen Rises Against Majors
The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
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European Markets Seen Opening Weak On Thursday
Stock markets in Europe are expected to open on a weak note on Thursday amidst fading enthusiasm regarding the de-escalation in global trade tensions. Absence of fresh catalysts on the trade front, a cooling tech rally as well as anxiety ahead of a speech by Fed Chair Jerome Powell are also expected to keep market sentiment muted.
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