This Friday, March 22, 2024, the equity markets are expected to fall slightly before the IFO index. However, the Eurostoxx 50 opened at 5,052.31 points (+1.04%), the CAC 40 at 8,179.72 points (+0.22%), the AEX opened with 875.42 points (+1.73%), the BEL 20 at 3,787.97 points (+1.04%), the CAC 40 at 3,787.97 points (+2.78%), the IBEX 35 at 10,867.50 points (+1.07%), the DJIA at 39.781.7%, the DJIA at 39,781.97 points (+2.78%) 37 points (+0.68%), the Nasdaq at 16,401.84 points (+0.20%), the S&P 500 at 5,241.53 points (+0.32%) and the Nikkei 225 at 40,888.43

points (+0.18%).

On the exchange rate side, the change from the close in New York indicates that the EUR/USD at 1.0833 is at (-0.27%), the EUR/JPY at 164.19 (-0.30%) and the USD/JPY at 151.60 (-0.02%).

LVMH announced on Thursday evening that Toni Belloni will be stepping down as Deputy CEO and Chairman of the Executive Committee of the luxury group the day after the general meeting to be held on 18 April. The operational functions performed by Toni Belloni will be taken over by Stéphane Bianchi, who has been at the head of LVMH's watches and jewelry division

since 2020.

European equity markets are expected to open slightly lower on Friday morning, after the records reached the previous day amid hopes of monetary easing. At 7:30am, the CAC 40 futures contract lost 19.7 points, or 0.2%, according to data from broker IG. The one on the DAX 40 gave up 20 points, or 0.1%, and the contract on the FTSE 100 gave up 4.9

points, or 0.1% as well.

The focus on Friday will be on the IFO Business Climate Index in Germany for March, as well as on the Eurozone Summit in Brussels, in which Christine Lagarde for the European Central Bank (ECB) is taking part, in which Christine Lagarde is participating.

The New York Stock Exchange closed on Thursday, buoyed by the hope of lower rates and the good health of the American economy. The reduction in interest rates by the Swiss National Bank (SNB) as well as comments from central bank officials in the United States and Europe indicate that rates are expected to fall in all developed countries, despite signs of more persistent inflation than

expected.

In Asia, equity markets moved in a mixed manner on Friday. In Tokyo, the Nikkei index rose by 0.2% to 40,888.43 points, a new record at the close. The Hang Seng lost 2.6% at the end of the session in Hong Kong and the Shanghai Composite Index lost

0.9%.

US Treasury yields fall on Friday morning. On Thursday, the two-year bond rate, sensitive to monetary policy, rose after the announcement of good PMI indices for the month of March in the United States. Federal fund futures market operators on Friday put the probability that the Federal Reserve (Fed) will cut rates by 25 basis points in June at 69.4% on Friday at 69.4%, according to CME's FedWatch

tool.

At around 7:30am, the 10-year US Treasury yield dropped 2 basis points to 4.242%. That of the stock at 2 years lost 3 basis points, to 4.615%

.

The euro lost ground on Friday morning against the dollar and the yen, while the greenback was unchanged against the Japanese currency. While the macroeconomic agenda is down on Friday, investors are waiting for the indicators expected next week in the United States, in particular the PCE inflation index, which will be published on March 29

.

Oil futures fell on Friday morning, under pressure from concerns about the outlook for energy demand. The drop in black gold prices is also due to changes in exchange rates, with prices of commodity denominated in dollars falling due to the appreciation of the greenback, observes Colin Cieszynski, the head of market strategy at SIA Wealth

Management.

Around 7:10 a.m., the May contract for North Sea Brent lost 63 cents, to $85.15 per barrel, while the contract for light sweet crude (WTI) at the same maturity, listed on Nymex, lost 62 cents to $80.45 per barrel.