CAC 40

Key insight

8,200 round number breached intraday; next hard support is 8,050 (Aug swing low). ECB hawkish surprise Thursday could accelerate the flush toward 7,900 200-day MA.

Down -1.42% to 8,189 — lowest close since July, with ECB hiking 25 bps Thursday and oil at $93.7 crushing margins for French industrials and luxury names.

Main risk

ECB Rate Decision — Sep 11

Eurozone CPI 3.3% in Aug — 15-yr high above 2% target — forces ECB hand; 25 bps hike Thursday would reprice rate-sensitive CAC banks and rate proxies hard.