Daily Report

2 de Julho de 2025
Financial Markets | daily report 02.07.2025
  • Investors traded cautiously in yesterday's session and, in the euro area, the major stock indices declined and sovereign yields edged lower. In a panel of central banks in Sintra, Fed's Powell acknowledged that the Fed would have already cut rates this year absent Trump's tariffs, while the ECB's Lagarde stated that inflation is at target in the euro area.
  • In the U.S., sovereign yields ticked up on the back of JOLTS job openings data showing a resilient labor market and as the Senate passed Trump's budget bill (51 to 50 votes; the bill will now go back to the House). The S&P 500 and the Nasdaq erased early gains, and the dollar weakened as the EURUSD traded slightly above $1.18.
  • On the data front, euro area inflation stood at 2.0% in June according to Eurostat's preliminary estimate. The U.S. ISM manufacturing nudged up to 49.0 points in June, while its prices paid subindex (69.7, nearly a 3 year high) continued to signal strong input cost pressures (the survey pointed to tariffs as a key driver).