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FX.co ★ CAC 40 Holds Steady In Cautious Trade

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typeContent_19130:::2024-08-19T10:00:00

CAC 40 Holds Steady In Cautious Trade

French stocks remained stable on Monday as investors anticipated guidance from the upcoming FOMC meeting minutes, alongside speeches from Federal Reserve Chair Jerome Powell and other Fed officials, for further insights into the future path of interest rates.

The dollar started the week on a weaker footing after a few Federal Reserve officials indicated it might be time to reassess the current borrowing costs.

In regional markets, attention will shift later in the week to the release of the flash Purchasing Managers' Index (PMI) data for France, Germany, Britain, and the Eurozone. The benchmark CAC 40 index edged up slightly to 7,452 after a 0.4 percent gain on Friday. Nexans, a power cable supplier, saw a significant drop of 3.6 percent following a downgrade by Goldman Sachs.

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