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Market Update: European Equities Try to Rebound
European stocks were slightly up Tuesday afternoon, trying to extend Monday’s rally, as traders balanced rising inflation risks with prospects of solid economic growth in Europe. At the same time, the highly anticipated testimony from US Fed Chair Jerome Powell could provide further guidance on the monetary policy path, while focus will also turn to the key Eurozone consumer confidence flash survey for June. ECB President Christine Lagarde said on Monday that a recovery in global demand and a faster-than-anticipated increase in consumer spending could result in a stronger economic recovery, while rising US consumer prices would have only a limited impact in the Euro Area and any tightening of wider financing conditions would be premature. Elsewhere, two US central bank officials explained their support for an earlier withdrawal and a third signaled it was too early for any turn in policy. [/s2If]
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