© Reuters
Investing.com – European stock markets traded higher Wednesday, buoyed by renewed confidence that the major central banks’ tightening cycle has peaked.
At 03:05 ET (08:05 GMT), the in Germany traded 0.1% higher, the in France traded up 0.1% and the in the U.K. rose 0.1%.
German factory orders slump
Economic data of late have pointed to a likely recession for the eurozone in the final quarter of the year, but this has boosted investors’ optimism that the has ended its prolonged run of interest rate hikes.
Data released Wednesday showed that slumped 3.7% on the month in October, a sharp drop from the revised 0.7% gain the prior month.
European are due later in the session, and are expected to rise 0.2% on the month in October, an annual drop of 1.1% as consumers continue to struggle with the combination of high interest rates and prices.
ECB policy maker Isabel Schnabel, a known hawk, suggested earlier this week that further tightening is “rather unlikely”, adding to the growing sense that the major central banks are done hiking.
A degree of dovishness has also emerged from comments from Fed officials, including from Fed Chair Jerome Powell at the…
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