After the pullback on Thursday, September 29, European equity markets are expected to open close to balance. The Eurostoxx 50 opens at 3,279.04 points (-1.69%), the CAC 40 at 5,676.87 points (-1.53%), the DAX 40 at 11,975.55 points (-1.71%), the FTSE 100 at 6,881.59 points (-1.77%), the SMI at 10,126.99 points (-0.92%), the AEX at 633.55 points (-1.77%), the SMI at 10,126.99 points (-0.92%), the AEX at 633.55 points (-1.77%) 1.18%), the BEL 20 at 3,324.99 points (-1.85%), the IBEX 35 at 7,300.10 points (-1.91%), the DJIA at 29,225.61 points (-1.54%), the Nasdaq at 10,737.51 points (-2.84%), the S&P 500 at 3,640.47 points (-2.11%) and the Nikkei 225 at 25,822.4% 92 points (-2, 28%).

With regard to exchange rates, the change from the close mentions that in New York EUR/USD is at 0.9804 (-0.11%), EUR/JPY at 141.80 (+0.04%) and USD/JPY at 144.65 (+0.16%).

Economists expect household consumption to fall by 0.2% over one month in August, and to fall by 3.8% over one year. Household consumption fell by 0.8% over one month and 4.3% over a year. In August, these economists also expected an inflation rate of 6.1% over one year in September, after 5.9%. Consumer prices would have fallen by 0.1%, after a rise of 0.5% over a month in August.

Opening on sale September 30, 2022, European equity markets should try to stabilize after their strong pullback the previous day. Indeed, according to data from the IG Markets broker, the CAC 40 futures contract gained 4.2 points, or 0.1%, around 7:30am. The FTSE 100 contract dropped 9 points, or 0.1%, and the DAX 40 contract lost 4 points.

On Friday, September 30, 2022, investors review statistics on the United Kingdom's second-quarter gross domestic product and provisional data on inflation in September and the unemployment rate in August in the eurozone. Against a background of vigorous monetary tightening by central banks, the New York Stock Exchange closed sharply on Thursday, September 29, overtaken by fears of a recession. The day before, the fall in the indices erased the ephemeral rebound enabled by the intervention of the Bank of England (BOE) to ease tensions on the bond markets. Stock markets were trading measles on Friday, September 30 in Asia. Hang Seng fell by 0.1% in Hong Kong, the Shanghai Composite lost 0.2% and the Nikkei index on the Tokyo Stock Exchange lost 2.3% at the end of the session.

After rising on Thursday, September 29, 2022, US Treasury yields changed little the next morning. They are supported by data on inflation in Germany, which has revived concerns about rising prices and rising interest rates. The 10-year US Treasury bond rate was almost stable at 3.778% around 7:20 a.m., while the rate for the 2-year bond dropped 1 basis point, at 4.204%.

German statistics showed on Thursday, September 29, 2022 that consumer prices across the Rhine had increased by more than 10%. This announcement caused a sell-off in sovereign bonds, increased yields and contributed to the fall in the three major US stock indices.

In the morning of Friday, September 30, 2022, the greenback appreciated against the Japanese currency while the euro lost ground against the dollar and the yen. Minh Trang of Silicon Valley Bank said that the strengthening of the dollar surprised all observers at the end of the third quarter. The foreign exchange trader also indicates that: “The Fed has not varied in its discourse that it will continue to raise rates until inflation returns to a comfortable level, and it has emphasized that this is not yet the case.”

Investors are wondering whether OPE+ will cut production after its meeting next week, amid uncertainty about demand prospects, while oil futures are falling in Asia. The November Brent contract lost 31 cents to $86.87 per barrel, while the New York-listed WTI contract lost 23 cents at $81 per barrel. According to ANZ, the market fears that the Fed's comments about rate hikes will weigh on demand for black gold.