At the opening this Wednesday morning, the Eurostoxx 50 was down  4,096.01 points down 0.04% while the CAC 40 expects a +0.11%  increase  to 6,551.01 points. The DAX 30  posted 15,640.60 points with a decline of 0.23%, the FTSE 10 to 7,095.09 points up 0.25%, the SMI to 11,656.89 points up 0.23%, the AEX to 719.43 points up 0.11%, the BEL 20 to 4,107.56 points down 0.05%, the IBEX 35 to 9,153.60 points down 0.11%, the DJIA at 34,599.82 points down 0.09%, the Nasdaq at 13,924.91 points up 0.31%, the S&P 500 at 4,227.26 points up 0.02% and the Nikkei 225 at 28,854.22 points, a decrease of 0.38%.

As far as the exchange rate is concerned, the change from the close in New York shows a 0.07% increase in EUR/USD which shows 1.2181, the EUR/JPY which expects 133.35 with an increase of 0.06% and the USD/JPY which shows 109.49 which is down 0.01%.

In France, Soitec presents this Wednesday its results for the year ended March 31, 2021, while Rubis brings its shareholders together at a general meeting. On Tuesday evening, Renault announced that it had been indicted on Tuesday for "deception" as part of an investigation into the polluting emissions of older generations of diesel vehicles. The group will have to post a bond of 20 million euros, including 18 million euros for the possible payment of damages and fines, and give a bank guarantee in the amount of 60 million euros to compensate for any damages. Airbus Helicopters has announced that it has reached an agreement with the German group ZF Friedrichshafen to acquire ZF Luftfahrttechnik.

Europe's main equity markets are expected to hesitate on Wednesday at the opening, with investors waiting ahead of the two flagship events of the week, namely the European Central Bank's (ECB) monetary policy decision and the consumption in the United States, both scheduled for Thursday. At 7:30 a.m., the CAC 40 futures contract gained 10 points, or 0.15%, according to data from broker IG Markets. The DAX 30 contract was down 8.5 points, or 0.05%, while the FTSE 100 contract was down 8 points, or 0.1%.

Investors are concerned about the effects of the global economic recovery on inflation and, consequently, on central bank monetary policy.    They will certainly react to inflation figures in China, where producer prices jumped by 9% in May, driven by rising commodity prices. This is the largest increase in this indicator in 13 years. However, NAB points out that if inflation in the United States comes out above expectations but is fueled by temporary factors, it is unlikely that the Federal Reserve (Fed) will change its position. For its part, the ECB should do its best to protect markets from fears of a gradual reduction in asset purchases ("tapering"), said Annalisa Piazza, an analyst at MFS Investment Management. "We rule out the idea that the ECB is ready to let the market integrate tapering fears," she said.

The consumer price index in China rose much more moderately, by 1.3% year-on-year. In this context, Asian markets present a mixed picture. At the end of the session, the Nikkei index lost 0.4% in Tokyo and the Hang Seng of the Hong Kong Stock Exchange lost 0.1%. The Shanghai Composite Index, on the other hand, gained 0.3%.    In the United States, Wall Street finished in scattered order on Tuesday. The Dow Jones Index (DJIA) closed down less than 0.1% to 34,599 points, and the broader S&P 500 index gained 0.02% to 4,227.26 points. The tech-dominated Nasdaq Composite gained 0.3% to 13,924 points.

Current bond yields have lost ground in recent days, ahead of the release of U.S. inflation figures on Thursday. These data should shed additional light on the recovery of the economy after the health crisis. U.S. Treasury yields continue their decline on Wednesday morning. Ten- and 30-year bond yields fell to their lowest level in at least three months on Tuesday, as investors were nervous ahead of the next monetary policy meetings of the ECB and Fed. At 7:30 a.m., the yield on the ten-year Treasury bill, the market's benchmark, stood at 1.525%, compared with 1.543% on Tuesday night.

The ECB is expected to be more cautious than the Fed in the short term, which could lead to a decline in the euro against the dollar and a rise in eurozone equity markets, however, warns Evercore ISI. Because, the euro shows a slight rise against the dollar on Wednesday morning. The ECB could acknowledge that economic indicators improved at its meeting on Thursday, but it should opt for patience, postponing until September any decision on the pace of bond purchases under the Pandemic Emergency Purchase Programme (PEPP), he adds.

Oil contracts are gaining ground on Wednesday morning, thanks to the improved demand outlook. Prices for Nymex-listed light sweet crude (WTI) ended higher on Tuesday in New York, breaking the $70 mark for the first time since October 2018. The U.S. Department of Energy has again raised its price forecast for WTI and Brent in 2021 on the back of the recovery in demand, according to its monthly report released Tuesday. On Tuesday night, the American Petroleum Institute (API) announced a 2.1 million barrel drop in crude inventories and a 2.4 million barrel increase in gasoline inventories last week. At 7:20 a.m., the August contract for North Sea Brent was up 37 cents, at $72.59 a barrel, while the July contract for WTI was up 39 cents, at $70.44 a barrel. Traders are now awaiting the release of U.S. crude inventories, which are expected to have fallen by 2.3 million barrels in the week ending June 4. This would be the third consecutive decline in inventories.