Baisse attendue en Europe après la Fed – 22/09/2022 à 08:03

Le panneau près du Palais Brongniart, ancienne Bourse de Paris, situé Place de la Bourse à Paris

Le panneau près du Palais Brongniart, ancienne Bourse de Paris, situé Place de la Bourse à Paris

par Claude Chengdu

PARIS (Reuters) – The main European stock markets are expected to be lower on Thursday in the wake of Wall Street as the session should again be dominated by the decisions of the central banks in the coming days of a three-quarter point rate hike. American Federal Reserve (Fed).

According to the first indications available, the Dax in Frankfurt should lose 1.82% at the opening, the FTSE 100 in London 0.92% and the EuroStoxx 50 index 1.75%.

The American Federal Reserve announced on Wednesday a three-quarter consecutive interest rate hike and indicated that it should decide on a fourth one at the end of the year to curb inflation. .

The objective of the rate of the federal funds is thus raised to 3.00%-3.25%, the last plus high level since 2008, and the new projections of the central bank show that it should increase by 1.25 percentage points supplémentaire d’ici fin décembre, puis culminer à 4.60% en 2023.

These new projections, deemed aggressive, surprised investors, especially the most optimistic ones who had previously been relieved by a rate increase limited to three quarters of a point while an increase of 100 basis points was also on the table. .

“La Fed ne va pas s’arréter de si tôt et il va y avoir une période protracted de politique monétaire restrictive jusqu’à l’année next au moins”, declaré Sally Auld, director des investissements chez le gestionnaire de fortune JB Were .

Le FOMC (Federal Open Market Committee), le comité de politique monétaire de la banque centrale, a cpendant indicé Wednesday ne prévoir aucune baisse de taux avant 2024.

In Japan, the central bank of the country kept its ultra-accommodating policy on Thursday, maintaining the short-term interest rate target at -0.1%, thus increasing the gap between its strategy and those led by others. grandes banques centrales du monde.

Investors are now waiting for monetary policy announcements from the Swiss National Bank (BNS), the Bank of England (BoE) and the Norges Bank (the central Norwegian bank), while in the euro zone the publication of the PMI on Friday sur l’activité manufacturière et celle des services should provide leur fournir de nouveaux éléments sur l’évolution de la conjoncture économique.

A WALL STREET

La Bourse de New York a fini en net baisse Wednesday, au terme d’une séanceuseuse au cours de la laquelle les investors ontté de décrypter les dernières annonces de la Réserve fédérale et la prise de parole de son president, Jerome Powell.

The Dow Jones index lost 1.7%, or 522.45 points, to 30,183.78 points.

The S&P-500, plus large, lost 66.11 points, or 1.71%, to 3,789.82 points.

The Nasdaq Composite retreated last month by 204.86 points (-1.79%) to 11,220.19 points.

IN ASIA

A la Bourse de Tokyo, l’indice Nikkei, qui a touché en session un crux de deux mois, recule de 0.57% à 27,156.21 points. The Topix, plus large, retreated 0.2% to 1,916.94 points at the close.

In China, the SSE Composite de Shanghai abandoned 0.29% and the CSI 300 gave up 0.79%.

TAUX

Sur le marché obligataire, l’écart de yielden entre les bons du Trésor américain papier à ten ans et celui à deux ans se creuse à 56 points, les investisseurs se préparant à une recession. The yield of the first one is 3.5416% and that of the second one is 4.1320% on the Asian markets.

In Europe, le rendement du dix ans allemand a fini à 1.88% tandis que le deux ans est revenu à 1.75%.

CHANGES

The dollar, en hausse de 0.88% against a panier de currencies de référence, continues to benefit both from the recent status of value refuge and from the recovery of American interest rates.

Le yen est tombé à un plus de 20 ans à 145.5 dollars avant l’annonce des décisions de la Banque du Japons.

L’euro, en repli de 0.06%, se traite à 0.9831 dollars.

PETROLEUM

The oil is supported by the return of geopolitical tensions and concerns over the offer, which take away the concerns over the demand.

Brent rose 0.41% to 90.2 dollars per barrel and American crude oil (West Texas Intermediate, WTI) rose 0.37% to 83.25 dollars per barrel.

(Edited by Claude Chendjou, edited by Matthieu Protard)

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