This Monday, the Paris Stock Exchange is playing coy, dragging its feet with a CAC 40 down slightly at mid-session. While investors are feverishly scrutinizing the American macroeconomic agenda for the week, the Parisian market seems to prefer a good coffee to any sudden movement. However, behind this lull, the shadow of the US indicators looms and makes more than one trader shudder.
In Paris, the stock market is at a standstill!
Far from the hustle and bustle of New York, Paris, host of the Olympic Games, a significant boost to the French economy, is taking it easy. Barely open, the CAC 40 has already lost its momentum, falling 0.17% to 7,257.20 points. It seems that the Paris Stock Exchange has decided to play the turtle, patiently waiting for Wall Street to show the way.
Moreover, Parisian investors seem to have adopted the same phlegm: ” What's the point of getting worked up? “, they must be saying to themselves. Especially when we know that from tomorrow, the American figures will come pouring in like summer rain.
Indeed, our friends across the Atlantic are going to deliver to us in bursts industrial production, inflation and retail sales. Suffice to say that caution is required in Paris, where everyone is holding their breath, waiting for the first drops.
Only a few bold ones dare to get involved: Esker, which jumped after confirming juicy rumors about Bridgepoint, and Eutelsat, which picked up a few points with its announcement of a partial sale of infrastructure. In short, it's the calm before the storm.
America in ambush
This week, all eyes are on the other side of the Atlantic. Because that's where everything will be played out. The American figures that are about to fall will set the tone for the rest of the summer.
On Tuesday, we will have producer prices, to see if US industry is still running at full capacity. On Wednesday, it is July inflation that will reveal its secrets, a figure that is always closely scrutinized by the markets. On Thursday, it will be retail sales that will take over, followed on Friday by the consumer confidence index, the essential U-Mich barometer.
In short, a busy week that could well give the markets cold sweats. Investors are warned: the slightest bad news could send the indices plummeting.
And if, in addition, the FED decided to play the party pooper in September, the entire stock market could go into a tailspin.
This week's agenda:
- Tuesday: Producer prices
- Wednesday: July inflation
- Thursday: July Retail Sales
- Friday: Consumer Confidence (U-Mich)
Last May, the FED had already shaken the markets, sending the CAC 40 into a free fall. The next announcements could well revive these painful memories.
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