European Markets Open Lower Amid ECB and Inflation Focus

European markets experienced a downturn at Wednesday's opening, with investors closely monitoring the upcoming European Central Bank (ECB) interest rate decision. Anticipations are high for a potential 25 basis-point rate cut.

Inflation Figures Draw Attention

Today's spotlight also shines on the latest inflation data from the European Union and Italy. The United Kingdom has already reported a decrease in annual inflation to 2.6% in March, down from February's 2.8%, and below market expectations.

Market Performance Highlights

Germany's DAX saw a 0.50% drop at the open, while The Euro Stoxx 50 declined by 1.05%. The CAC 40 dipped 0.82%, and The FTSE 100 decreased by 0.20%.

Currency Movements

In currency markets, the euro strengthened by 0.75% against the dollar, trading at 1.13654 by 8:54 am CET. Similarly, the pound gained 0.24% against the dollar, reaching 1.32629 at the same time.

Stay tuned for further updates...