The Ibex awaits relief from the European CPI

Markets are hoping for stimulus from a slowdown in eurozone inflation figures. This figure is particularly relevant just two days before the expected ECB rate cut, and comes alongside the further moderation seen today in oil prices. The Ibex is threatening a fourth consecutive day of limited changes.

The renewed tariff tensions have barely affected equities. Europe and Wall Street closed flat to slightly bullish yesterday, and this same tone was repeated this morning in Asian equities. Economic and monetary references are gaining increasing prominence in the markets, and this week includes significant news, both in macroeconomic data and from central banks.

Today's agenda could confirm an inflationary lull in the eurozone . The May CPI will be released at 11 a.m., and all forecasts point to a moderation in prices. If these forecasts are confirmed, inflation would moderate from 2.2% to 2%, already in line with the European Central Bank's target.

The inflation data takes on greater significance than usual as it is released just two days before the ECB meeting. The CPI figures would pave the way for a further rate cut next Thursday. Analysts assume an additional 25 basis points, so the main focus will be on any clues the ECB may give regarding its decision at the July meeting, a meeting for which analysts are considering a possible pause in rate cuts.

The Spanish stock market is relying on expected inflation stimuli and interest rate cuts to stave off the threat of a correction. The Ibex yesterday recorded its third day of slight upward momentum. The index posted three modest gains of 0.11%, 0.25%, and 0.36%. Pending today's benchmarks, the Ibex is attempting to consolidate this rally and maintain the 14,200-point level it had regained at yesterday's close.

Upcoming expansion.