Daily Report

7 de Maio de 2024
Financial Markets | daily report 07.05.2024
  • In the first session of the week, investors weighed somewhat better-then-expected economic data releases in the euro area with dovish comments from central bank officials on both sides of the Atlantic. On the latter, Richmond Fed president Thomas Barkin said that current interest rates are sufficient to bring inflation back to target.
  • In the euro area, Phillip Lane said that the latest inflation and economic activity releases improved his confidence that inflation will return to target in a timely manner, suggesting that a June rate cut is highly probable. On economic activity, April services and composite PMIs for the euro area were revised slightly upwards from the flash release.
  • In this context, yields on sovereign bonds edged down modestly in the US and in the euro area while equities rose across the board. Elsewhere, the US dollar weakened against most peers and the euro rose towards $1.08. The price of the barrel of Brent rose slightly as there are no advances in a ceasefire agreement between Hamas and Israel.