European markets are set to open fractionally higher on Friday as global markets shrug off a sharp rise in U.S. inflation, with many strategists believing it to be transitory.
"Within the data, strong contribution continues to come from sectors that are rebounding quickly with pandemic restrictions easing," said Charlie Ripley, senior investment strategist at Allianz Investment Management.
A Reuters poll of economists published Thursday found that a majority expect the Fed to announce in August or September a reduction to its massive bond buying program, with cuts to monthly purchases beginning early in 2022.
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