The CAC 40 index remains passionate – against the backdrop of the industry in China. TotalEnergies issued by the City of Paris, was accused of “climate inaction”. In the United States, elected officials of the House of Representatives will vote for or against the U.S. debt ceiling agreement this Wednesday.
The CAC 40 index index should open Down; on Wednesday in the face of the return of fears of recession after a disappointing indicator in China; and pending a series of economic statistics in Europe. The CAC 40 index is expected in the red after a 1.29% decline. Manufacturing activity in China fell in May for the second consecutive month according to official data published on Wednesday, while the post-Covid recovery of the second-world economy seems more laborious than expected.
This purchasing manager index ( PMI ), which reflects the health of the industrial world, came out below the estimates of analysts surveyed by the Bloomberg agency. “Internal demand has recently weakened in part due to the slowdown in the real estate market and the second wave of Covid. External demand is not favorable either, so the United States faces a risk of recession, “decrypts economist Zhiwei Zhang of Pinpoint Asset Management.
On Tuesday, fears of recession weighed on the CAC 40 index and bond yields, according to Michael Hewson, CMC Markets analyst, while the oil market fell in the face of concerns about demand for hydrocarbon. Investors are worried as much for the Chinese economy; as the United States and Europe, on the brink of recession and still faced with stubborn inflation. Therefore they will scrutinize the final GDP growth figures, in the first quarter, for France, Italy, Belgium, and Portugal.
Cac 40 Short (Sell)
Enter At: 7121.45
T.P_1: 7005.98
T.P_2: 6932.62
T.P_3: 6840.91
T.P_4: 6743.10
T.P_5: 6645.28
S.L: 7342.22
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