French stocks were marginally higher on Monday and the dollar steadied near two-week lows after Federal Reserve Chair Jerome Powell sounded more cautious than other Fed officials when talking about tapering.
Powell signaled the central bank is likely to begin tapering some of its easy-money policies before the end of the year but there’s “much ground to cover” before rate hikes happen.
In economic releases, Eurozone business and household confidence declined slightly in August, following July’s record high, the European Commission said.
The economic sentiment indicator, an aggregate measure of business and consumer confidence, dropped to 117.5 in August from 119.0 in July.
Traders await the all-important U.S. employment report this week to assess whether the economic recovery merits an earlier tapering.
The benchmark CAC 40 edged up 9 points, or 0.1 percent, to 6,690 after gaining 0.2 percent on Friday.
Market Analysis
CAC 40 Marginally Higher On Fed Led Optimism
2021-08-30 09:32:27
