Animated by a climate of caution, European equity markets should hesitate to open. This Monday morning, the Eurostoxx 50 opens at 4,120.66 points (-0.04%), the CAC 40  at 6,622.87 points (-0.12%), the DAX 30 at 15,607.97 points (+0.12%), the FTSE 100 at 7,136.07 points (+0.37%), the SMI at 11,999.70 points (+0.05%), the AEX  at 733.14 points (+0.06%), the BEL 20 at 4,179.93 points (+0.73%), the IBEX 35 at 9,095.00 points (+0.23%), the DJIA  at 34,433.84 points (+0.69%), the Nasdaq at 14,360.39 points (-0.06%), the S&P 500  at 4,280.70 points (+0.33%) and the Nikkei 225 at 29,006.85 points (-0.21%).

The change in the exchange rate at 06:50 indicates a downward trend in all major currencies. EUR/USD opened at 1.1923   (-0.13%), EUR/JPY at 131.91 (-0.27%) and USD/JPY at 110.64 (-0.14%).

Prepare should be exercised on European stock markets in early trading on Monday, as investors continue to assess the prospects for economic recovery given the new variants of the coronavirus. Possible tensions around the bipartisan agreement on infrastructure in the United States could also weigh on investor sentiment. Around 7:35 a.m., the CAC 40 futures contract gained 2.3 points, or 0.03%, according to data from broker IG Markets. The contract on the DAX 30 took 13 points, or 0.1%, and the FTSE 100 contract gained 2.5 points, or 0.04%. The day will be marked by the intervention of several central bankers, including Fabio Panetta, member of the Executive Board of the European Central Bank (ECB), who will deliver a speech on central banks on the front line in the face of Covid, and Luis de Guindos, the vice-president of the monetary institution, who will speak at the Euro Finance Summit in Frankfurt. Philadelphia Federal Reserve (Fed) Chairman Patrick Harker's speech will also be watched. The White House and Senate negotiators on Sunday tried to keep the infrastructure deal on track, after its future was called into question when President Joe Biden indicated, before retracting, that he would veto the project if lawmakers failed to pass a separate program of fight against poverty supported by the Democrats.  Several Republican senators who have reached an infrastructure deal with Democratic lawmakers and the president appeared reassured Sunday by statements by Joe Biden who, the day before, had retracted his comments linking the fate of the deal of about $ 1 trillion to a broader bill that could cost trillions more.

The New York Stock Exchange ended in a contrasting fashion on Friday with a decline in technology and a new record in the S&P 500 index, amid heightened confidence in the recovery of the global economy and continued accommodative monetary policy. The S&P 500 index advanced 0.3% to its 31st record since the beginning of the year, at 4,280.70 points. The Nasdaq index, on the other hand, ended slightly lower, by 0.06%, to 14,360.39 points, after its new highs reached in the week.

In Asia, the main clues show a contrasting landscape on Monday. At the end of the session, the Nikkei index of the Tokyo Stock Exchange lost 0.2% and the Shanghai Composite lost 0.1%, while the Hang Seng index advanced 1.4% in Hong Kong.

US Treasury yields fell slightly on Monday morning, while Asian equity markets started the week cautiously. At 7 a.m., the yield on the ten-year Treasury, the market's benchmark, stood at 1.524%, compared with 1.528% on Friday night. Yields rose last week and long-term debt yields posted their biggest weekly rise in months. On Friday night, Boston Fed President Eric Rosengren said the economy could meet the central bank's targets to raise interest rates, currently between 0% and 0.25%, as early as the end of 2022. and reduce its asset purchases to $120 billion per month.

The euro is losing ground Monday morning against the dollar and the yen. The greenback is also falling against the Japanese currency. The dollar will be subject to adverse influences this week, CBA says. The bank expects the ISM manufacturing index to show that activity continued to grow steadily in June. However, lower-than-expected job creation for the third month in a row is the main risk to the dollar this week, CBA adds. U.S. current account statistics could also pose a risk to the dollar, according to the bank.

Oil contracts are down slightly on Monday morning, due to new Covid-19 restriction measures put in place in some Asian countries. At 7:25 a.m., the August contract for North Sea Brent fell 7 cents to $76.11 a barrel, and the same maturity contract for Nymex-listed soft light crude (WTI) lost 1 cent to $74.04 a barrel. Oil futures gained ground last week, for the fifth week in a row.