European stock markets closed higher despite losing some ground, boosted by comments from Christine Lagarde, the head of the ECB, confirming interest rate cuts in June and ruling out new shocks. The slowdown in inflation in the eurozone also reassured investors. Milan gained 0.72%, London 0.32%, Paris 0.62%, and Frankfurt closed flat at +0.02%. On the other hand, Wall Street was trading lower as investors awaited the Federal Reserve’s Beige Book for new indications on US monetary policy. The possibility of interest rate cuts in the US seems to be diminishing, and the dollar remains strong against major world currencies, with the euro trading at 1.0642 against the greenback. Investors are keeping an eye on commodity prices as well, with oil prices falling and gold continuing its upward trend.
The news of interest rate cuts in June from the ECB and the slowdown in eurozone inflation helped push European stock markets higher, with Milan, London, Paris, and Frankfurt all closing in positive territory. However, Wall Street saw a decline as investors awaited further guidance on US monetary policy from the Federal Reserve’s Beige Book. The possibility of interest rate cuts in the US appears to be fading, and the dollar remains strong compared to other currencies. Meanwhile, commodity prices are also on investors’ minds, with oil prices falling and gold continuing to rise.
Despite losing some shine, European stock markets closed higher thanks to Christine Lagarde’s remarks confirming interest rate cuts in June and ruling out new shocks. The slowdown in eurozone inflation also provided some reassurance to investors. Milan, London, Paris, and Frankfurt all ended the day in positive territory, while Wall Street saw a decline as investors awaited more information on US monetary policy from the Federal Reserve’s Beige Book. The US dollar remains strong against other major currencies, with the euro trading at 1.0642 against the greenback, and investors are keeping a close eye on commodity prices, including falling oil prices and rising gold prices.
European stock markets closed higher despite a slight loss of momentum, with Milan, London, Paris, and Frankfurt all ending the day in positive territory. This was driven by comments from Christine Lagarde confirming interest rate cuts in June and ruling out new shocks, as well as a slowdown in eurozone inflation. However, Wall Street saw a decline as investors awaited updates on US monetary policy from the Federal Reserve’s Beige Book. The dollar remains strong against other major currencies, with the euro trading at 1.0642 against the greenback, and commodity prices are also a focus for investors, with oil prices falling and gold prices rising.
In summary, European stock markets closed higher despite some loss of momentum, buoyed by Christine Lagarde’s comments reaffirming interest rate cuts in June and rejecting the possibility of new shocks. The slowdown in eurozone inflation also played a role in boosting investor confidence. Milan, London, Paris, and Frankfurt all ended the day in positive territory, while Wall Street saw a decline as investors awaited more information on US monetary policy from the Federal Reserve’s Beige Book. The dollar remains strong against other major currencies, with the euro trading at 1.0642 against the greenback, and commodity prices, including falling oil prices and rising gold prices, continue to be monitored closely by investors.
