Daily Report

11 de Setembro de 2020
Daily Report 11.09.2020
  • As expected, the ECB did not announce changes in its monetary policy and reiterated its intention to maintain very accommodative financial conditions to support the recovery of the economy in the euro area. Furthermore, the ECB reinforced its intention to increase monetary stimuli if necessary.
  • The ECB released a new macroeconomic scenario with no significant changes from the previous one. The main revision was on the contraction of GDP projected in 2020 to 8.0%, minus 0.7 p.p. than expected in June.
  • In the US the S&P 500 fell 1.8% and the Nasdaq 2%. In Europe, stock markets suffered small declines across the continent; the Eurostoxx50 index closed 0.4% below the previous day. Sovereign bonds and spreads in the peripheral countries remained quite unchanged.
  • In the FX market, the euro appreciated further against the dollar, reaching $1.19.