Stagnant CAC dips to 7,000 amid sluggish price action

Published: January 26 2023, 01:36 GMT+0

Stagnant CAC dips to 7,000 amid sluggish price action

A quick look at yesterday: CAC moves 0.09% to close at 7,044 yesterday.

This uncertain state for CAC is reflected by published market data as highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2. France Jobseekers Total released yesterday at 11:00 UTC is better than expected at 2.82 million but down from preceding data of 2.81 million according to new data. Germany Business Expectations came out at 86.4, better than analyst estimates of 85 and improving upon the previous reading of 83.2.

While CAC 40 was pretty flat yesterday, mixed performances were seen elsewhere as Hang Seng added 1.82% and closed around 21,651 yesterday. After ending yesterday's session at 7,490.4, ASX 200 lost 22.1 points and is trading around 7,468.3. KOSPI Composite Index rises 0.28% yesterday and closed at 2,428.57.

Data to be released today might clear up some of the market fog as Euro Zone ECB President Lagarde speech scheduled to come out tomorrow at 10:30 UTC. Spain GDP is expected tomorrow at 08:00 UTC. Germany Buba Balz speech will be released tomorrow at 17:00 UTC.

The index has been trending positively for about a month. 4 months ago, CAC fell to a low of 15.42 but has since recovered 45,623%.