(Ticker) – The main European stock exchanges have started the Easter weekend, as they do not trade today, Friday 7 April (Good Friday) and Monday 10 April (Easter Monday). The lists of Paris (France), Frankfurt (Germany), Milan (Italy), London (United Kingdom), Madrid (Spain), Vienna (Austria), Brussels (Belgium), Amsterdam (Netherlands) have therefore remained closed, only to name the main ones.
No trading even on Wall Street, thus celebrating Good Friday as a red calendar day. Unlike Europe, however, the American Stock Exchange will be open on Monday 10 April. In this way, it will be possible to know the market’s reaction to the spread of today’s fate on the American labor market which showed a phase of slowdown, in the month of March, despite the series of rate hikes by the Federal Reserve. And, according to insiders, the US job report didn’t bring enough arguments for the “more dovish” FOMC members to stop the process of raising interest rates.
In Asiathe Stock Exchanges of Hong Kong, Philippines, New Zealand, India, Singapore and Australia remained closed today, while there was no closure for the Chinese indices and for the Tokyo Stock Exchange (Japan).
Today in the Eurozone there were no significant data on the agenda. The only indication came from France, where the current account deficit fell to French, as well as the trade balance deficit.
Yesterday, Philip Lane (ECB) he avoided expressing an orientation on the May meeting, reiterating that the outcome will be determined by the data. However, he admitted that if the March forecasts (formulated before the US banking crises) are confirmed by the next data, a rate hike on May 4 will be appropriate.
There next week in the euro area is expected poor in relevant economic data. According to analysts of Intesa Sanpaolo, Italian industrial production is expected to recover slightly in February after the drop in the first month of the year. Final inflation estimates for March in Germany and France should confirm the slowdown seen in the preliminary reading. For the entire Eurozone, February should see the second consecutive increase in industrial production but a drop in retail sales.