Fed will keep Raising Interest Rate, European Stocks Lower
CAC 40 Index price rose 12.23 points almost 0.19% at 6,233.26 on Thursday, and DAX in Germany traded 0.4% lower.
In Europe, inflation is raising too fast and the situation is getting worse, with U.K. consumer prices rising 0.5% in August.
The CAC40 in France traded up by 0.19%, U.K FTSE100 traded down by 1.1%, and the DAX Germany Traded down by 3.3% by 03:55ET
European countries facing potential energy shortages because Russia halts the supply of gas in the European countries, European stock market was down on Tuesday because investors were afraid of the economic risk facing the region.
After this announcement, G7 finance ministers agreed to impose a price cap on Russia’s oil exports, the main reason behind this is to limit the funds of president Vladimir Putin.
The soaring energy prices rise so fast in Eurozone and fast approaching double digits the prices can add to inflation. This is putting pressure on the European central bank
Policymakers said that the economic data showed the condition of the country, the eurozone contracted in August with the S&P Global Composite PMI Index down 48.9 from 49.9 the previous month.
In the month of July, the Retail Sales were grown by 0.4% but this only represents a small comeback from the 1.2% fall the previous month.
OPEC+ is a group between the Organization of the Petroleum Exporting Countries and its Allies. meets later Monday for the tight supplies of oil, however, Saudi Arabia recently announced cutting production levels to support prices.
On technical fronts, the CAC 40 Index; RSI stood at 48.456, and currently it is trading below all SMA. So, the SELL position can be taken with the following target and stop-loss:
