Markets wait for ECB and BoE hikes after Fed move
Adani39;s woes continue in India
Dollar trying to recover after postFed falls

LONDON, Feb 2 Reuters The bulls were in charge ahead of the European Central Bank and Bank of England39;s first meetings of the year on Thursday, after the U.S. Federal Reserve bolstered the view that the surge in global interest rates was close to an end.

Fed chair Jerome Powell39;s message that a disinflationary process was taking hold had sent Wall Street up, the dollar down and kept Europe39;s stocks 0.5 higher as the BoE and ECB loomed.

Both are expected raise their mains rates by 50 basis points, but as with the Fed, the focus will be on what do they do from here.

The usual premeeting lull left the euro up just 0.1 and the pound looking groggy, though the gap between U.S. and German 10year yields hit its smallest since September 2020 as bond market borrowing costs continued to sink.

Dirk Schumacher, head of European macro research at Natixis, said that both the Fed and BoE were now effectively at the point of fine tuning, whereas the ECB still had more ground to cover having started its hikes later.

The questions is really how much there is to come, Schumacher said. These are difficult waters and some guidance is what the markets are looking for.

Away from the central bank action, there was more drama in India as one of its biggest firms, Adani, was forced the axe a longplanned 2.5 billion stock offer in the wake of allegations,…