Daily Report

2 de Outubro de 2024
Financial Markets | daily report 02.10.2024
  • Risk-off session in financial markets as the conflict in the Middle East intensified with an Iranian missile attack on Israel. Global stocks closed the session with losses of around 1%, while sovereign bonds, the US dollar and gold all rose as investors turned to safe assets. Brent oil prices rose by more than 2% close to $74/barrel.
  • On the macro front, euro area headline inflation fell in September to 1.8%, reaching below 2% for the first time since June 2021, while core inflation fell to 2.7%. The market implied probability of a 25bp interest rate cut in the ECB's upcoming meeting in October stood at 90%.
  • In the US, the JOLTs report showed job openings increased to a three-month high in August, easing fears of a deteriorating labor market. On the other hand, the September ISM manufacturing index came in below expectations at 47.2, unchanged from the previous month.