European Markets Open Lower

As the European trading session commenced, major indices showed a downward trend. Investors are keenly awaiting the Eurostat's final report on the euro area's inflation figures for February. Additionally, all eyes are on the United States Federal Reserve, which is set to announce its latest interest rate decision and economic projections later in the day.

Market Performance at a Glance

The DAX index experienced a significant drop, tumbling 0.75% at the opening bell. Similarly, the Euro Stoxx 50 and the CAC 40 faced declines, with losses of 0.49% and 0.17%, respectively. Not to be left out, the FTSE 100 also started the session on a lower note, trading 0.25% down.

Currency Movements

In the currency markets, the euro was observed to be 0.49% lower against the dollar, trading at 1.08914 at 8:59 am CET. Concurrently, the British pound saw a decrease of 0.24% against the US dollar, with its value at 1.29719 at the same time.

Stay tuned for more updates...