This Friday, August 12, 2022, the European equity markets are expected to experience a hesitant start to the session. The Eurostoxx 50 opens at 3,757.05 points (+0.21%), the CAC 40 at 6,544.67 points (+0.33%), the DAX 40 at 13,694.51 points (-0.05%), the FTSE 100 at 7,465.91 points (-0.55%), the IBEX 35 at 8.380.00 points (+0.33%), the DJIA at 33,336.67 points (+0.08%), the Nasdaq at 12,779.91 points (-0.58%), the S&P 500 at 4,207.27 points (-0.07%) and the Nikkei 225 at 28,492.50 points (+2.42%).

As for the exchange rate, the change from the close in New York shows EUR/USD opening at 1.0316 (-0.05%), EUR/JPY at 137.44 (+0.12%), USD/JPY at 133.23 (+0.16%).

Final consumer price data for July will be released at 8:45 am. There are no events on the corporate calendar on Friday.

Wall Street's rebound weakened despite new data suggesting that U.S. inflation may be peaking. However, European equity markets are expected to struggle to find momentum early Friday. At around 7:30 a.m., the CAC 40 futures contract was giving up 2.7 points, or less than 0.1%, according to data from broker IG Markets. The DAX 40 contract was down 8 points, or 0.1%, and the FTSE 100 was unchanged. Investors will look Friday at the first estimate of the U.K.'s second-quarter gross domestic product, the eurozone's June industrial production and, in the U.S., the University of Michigan's household confidence index for August.

The New York Stock Exchange indices closed mixed on Thursday, having lost steam after having benefited at the beginning of the session from new signals of moderation in inflation. Some analysts are urging caution as rising housing costs in the U.S. could keep core inflation high, even though lower oil and other commodity prices have helped reduce inflation expectations. In Asia, equity markets struggled to gain traction on Friday, with the exception of the Tokyo Stock Exchange, which staged a strong rebound. At the end of the session, the Nikkei index was up 2.4% in Tokyo, the Shanghai Composite was down 0.1% and the Hang Seng index of the Hong Kong Stock Exchange was up 0.5%.

While investors are looking at the latest data showing an easing of inflation in the U.S., U.S. Treasury yields are moving in mixed directions in Asia on Friday. At around 7:20 a.m., the 10-year Treasury yield was down 2 basis points to 2.867%. The 2-year Treasury note was up 1 basis point to 3.203%.

In the foreign exchange market, the euro was down slightly against the dollar Friday morning but appreciated against the yen, as did the greenback. The dollar's safe-haven status means it could benefit from the weak global growth outlook.

After closing up more than 2% on Thursday, crude oil futures are easing a bit on Friday. According to Oanda, prices will likely continue to move above $90 a barrel as easing recession fears should support demand. At around 7:20 a.m., the New York-listed WTI September contract was down 53 cents at $93.81 a barrel. For its part, the October contract for Brent crude was down 51 cents to $99.09 a barrel.