European stock markets are on track for a lower opening on Wednesday after investors received the latest comments from US Federal Reserve Chairman Jerome Powell. According to Powell, the bank will likely have to raise its key interest rates higher than initially expected.
Today, investors will continue to pay close attention to Powell's second statement, looking for projections on the current state of the global economy. In other news, before the opening, Adidas reported that net sales in the fourth quarter of 2022 amounted to €5.2 billion, missing estimates.
The DAX lost 0.44% at 8:04 am CET, while the CAC 40 fell 0.15%, and the FTSE 100 was flat. The pan-European Euro Stoxx 50 dropped 0.45% a minute later. The euro was down by 0.13% against the dollar at 8:03 am CET, selling for $1.05369. In comparison, the pound was flat to go for $ 1.18263 simultaneously.
