The Paris Stock Market suspended the decisions of the U.S. central bank

The Paris Stock Market, All which is far from recent highs icts Will scrutinize macroeconomic appointment next week in terms of the long-awaited meeting of the U.S. Federal Reserve (Fed) and the speech of the Chairman Ben Bernanke.

In the past week, the CAC 40 lost 1.74% to close Friday at 3805.16 points. Its earnings since January 1 are Reduced to 4.51%.

The Paris stock exchange "has ADOPTED logical consolidation Effective experiencing the Highest," says Bertrand Lamielle, director of management at B * Capital (BNP Paribas).

Markets are showing a "hypersensitivity (...) the monetary policies of central banks," indicate Their side economists BNP Paribas CIB, For Whom it was "clearly illustrated by the recent turmoil in a wide-range of turbulence assets."

This week, They Expressed disappointment Tuesday Effective in meeting of the Bank of Japan, All which HAS Chosen icts the status quo on monetary policy, current ultra-loose.

This setback HAS resulted in "a rebound in the yen, All which HAS Weighed on Asian stock exchange" Especially in Tokyo, Where the Nikkei lost more than 6% Thursday, said Jean-Louis Mourier, economist at Aurel BGC.

According to BNP Paribas CIB, all now depends on the Fed, All which meets Tuesday 18 and Wednesday, June 19, with a news conference by icts chairman Ben Bernanke.

In recent months, financial markets Have benefited from generous policies Including U.S. and Japanese central banks, to climb to new heights.

Purpose since Mr. Bernanke's speech before Congress and the publication of the minutes of the last Fed meeting in late May, Suggesting That The discussions Were more open to a slowdown in asset can Purchases, the uncertainty is installed in investors' minds.

Schedule

They Will aussi Pay Particular Attention to any comments on interest rates, Especially Now That Mourier says, "slowing Purchases [of assets] Fed is Acquired."

The question therefore relates to the calendar and adopt the monetary institution Largely All which depends on the level of economic recovery in the United States.

"The Fed chairman made clear the first movement That Could Occur in future meetings as long as the improvement in the U.S. economy and Improving job market are confirmed," Recalls strategists Credit Mutuel CIC.

Next week, Will investors take the pulse of economic dynamism overseas through several indicators.

Monday, They look the industrial activity in the New York area for the month of June, That Followed Thursday in the Philadelphia area.

Also on Thursday Will Be published weekly jobless claims and Existing home sales for May, as well as the composite indicator of economic activity in the Conference Board in May

In Europe, the ZEW barometer of confidence in German financial circles Will Be released Tuesday. Goal Will Be Especially Careful investors to the publication of leading indicators of activity in the euro area and China Thursday (PMI).

In the lack of information about the companies before the Beginning of July, "That the only numbers can move the markets are macroeconomic figures," says Lamielle.

Finally, the Finance Ministers of the euro area are meeting on Thursday to Discuss the terms of the banking union.

Among the losses to follow next week, Orange Monday Bringing together a board decides That Could icts the departure of CEO and EADS, parent company of the aircraft manufacturer Airbus is expected to announce orders at the Le Bourget air show, All which opens Monday.