Stock markets traded slightly higher but remained in their consolidation zone on Wednesday, as risk appetite seems to take a break ahead of the last batch of economic data before Thanksgiving.
European benchmarks are trading sideways, with the STOXX-50 index still inside its 20-points wide trading range, after yesterday's release of the FOMC minutes, alongside the speech from ECB President Lagarde, failed to bring more direction to equities.
The minutes from the last FOMC meeting indicated that the Fed would remain cautious with its next moves regarding rates. This may temper the dovish expectations of investors, even though it only has a limited impact so far.
Investors are now likely to keep their eyes on the December meetings from both the ECB and the Fed, hoping for a significant switch of semantics from central bankers.
Meanwhile, the focus should be on macro data, especially with today's Eurozone consumer confidence, the US initial jobless claims, University of Michigan consumer sentiment, and durable goods orders.
The Stoxx-50 index trades above its moving averages, close to its 4,350.0pts resistance following a slight rebound supported by consumer non-cyclical and real estate shares, while the RSI indicator continues displaying a cooling bullish momentum.

Pierre Veyret – Technical analyst, ActivTrades
Fundamental Analysis

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