Investors will keep a close eye on US inflation data, which could play a key role in the Federal Reserve's decision-makingFrench equities hit another record peak Wednesday amid broad European gains as traders awaited US inflation data set to play a key role in the Federal Reserve's next move on US interest rates.
While a healthy US jobs report on Friday soothed worries about a possible recession, it also reinforced expectations the central bank would press ahead with monetary tightening as it tries to cool the economy and bring inflation down. Analysts said the next few days could play a key role in market sentiment as Wednesday's consumer prices report will be followed by data on wholesale prices Thursday, then the start of the corporate reporting season on Friday.Chicago Fed boss Austan Goolsbee urged"prudence and patience", saying officials should weigh the effects on the economy of a year-long campaign of tightening as well as the banking upheaval.