The Paris Bourse is set to continue its upward trend on Wednesday, in the hope that a series of indicators expected during the session will confirm the trend towards a clear slowdown in inflation.

At around 8:15 a.m., the future contract on the CAC 40 index - for delivery at the end of January - was up three points at 7083 points, suggesting a rather positive start to the session.

After a brief foray above 7100 points yesterday afternoon, the Paris market erased some of its gains to end the session up 0.5% at 7077 points.

The CAC 40 index - which has maintained an upward trend since the start of the year, climbing more than 9% in 12 sessions - thus cleared a new resistance level, at 7030 points.

"There has been no end to the number of upward levels reached or surpassed since the first eleven sessions of the year, only one of which ended in negative territory", point out the chart analysts at Kiplink.

According to the professionals, reaching the target level of 7085 points - now far too close not to be tested - would represent the rapid culmination of a first medium-term objective.

The trend could nevertheless change today after the publication of a series of indicators, including several key inflation measures on both sides of the Atlantic.

In the US, producer prices are expected to rise below 7% for the first time since spring 2021, thanks to lower energy prices and the normalization of production lines.

In the UK, the respite provided by energy prices should moderate inflation a little, although it should remain in double digits.

Investors will also take note of the final figures for consumer prices in the euro zone for December.

Yesterday, the New York Stock Exchange was weighed down by the fall in Goldman Sachs shares following a disappointing fourth-quarter report, which prompted investors to take some profits.

While the Dow Jones lost more than 1.1%, the Nasdaq Composite managed to claw back more than 0.1%.

New York index futures are currently showing a slight rebound at the opening on Wednesday, with gains of between 0.2% and 0.3%.

Despite the recovery in European equities, bond yields are easing, with the 10-year German Bund down to 2.08% and French OATs falling by the same amount.

On the currency markets, the euro is strengthening above 1.08 against the dollar.

Oil prices are little changed as we await tomorrow's release of weekly US inventories, with a barrel of US light crude currently up 1.1% at $81.1.

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