European Stock Markets Edge Higher Ahead of U.S. Inflation Data and Yen Strengthens on BOJ Appointment

European stock markets edged higher on Monday, as investors assessed the potential for further monetary policy tightening ahead of key US inflation data and fresh quarterly Eurozone economic forecasts.[0] Wall Street equity futures also moved higher, helping to buoy sentiment on the continent.

Investors were also keeping a close eye on the latest German inflation data as well as the continuation of the quarterly corporate earnings season.[1] U.S. crude futures traded higher at $73.64 a barrel and the Brent contract rose 0.5% to $80.31.

However, the markets ended the day lower as uncertainties around inflation and further interest-rate hikes by the U.S. Federal Reserve weighed on investor sentiment. U.S. crude futures settled up $1.66 at $79.72 a barrel, while Brent rose $1.89 to close at $86.39.

The yen moved higher following the formal nomination of Kazuo Ueda as the next Bank of Japan governor, as traders increased bets that the BOJ’s yield-curve control and negative-rate policies may be abolished soon. The yen rose against most Group-of-10 currencies, as the Japanese government was set to appoint Ueda as the central bank’s next governor.

0. “European Shares Retreat On Rate Worries” RTTNews, 10 Feb. 2023,

1. “European stock futures higher; German CPI, Credit Suisse in focus By”, 9 Feb. 2023,