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EUROPE WAKES UP WITH NO CLEAR TREND IN SIGHT (0534 GMT)
European futures are flat to slightly negative this morning
with no clear trend in sight.
Not much of a change since the close of the session
yesterday and there isn't much inspiration coming from the East
where MSCI's broadest index of Asia-Pacific shares outside Japan
is up a meagre 0.2%.
Wall Street futures are also on the back foot and trading
flat or just below the floatation mark.
Some 'wait and see' is of course to be expected before we
get more visibility on the Fed's strategy at Jackson Hole on
Friday.
At the moment, nothing dramatic is expected with most
analysts taking the view that Powell will want to wait a bit
more before announcing his next move.
"The last-minute decision to hold this week’s meeting
virtually appears to be a tacit admission by the Federal Reserve
that the surge in the delta variant is still a clear and present
danger to the US recovery", wrote Michael Hewson at CMC Markets
UK.
(Julien Ponthus)
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