Daily Report

5 de Julho de 2024
Financial Markets | daily report 05.07.2024
  • Thursday's session saw light trading volumes as US markets were closed for the 4th of July holiday. Without any major macroeconomic data releases yesterday, investors' focus remained on political sources of instability, as the UK held a general election (which Labour won by a Landslide) and polls suggested Le Pen's RN will not win an absolute majority.
  • In this context, eurozone government bond yields rose slightly and peripheral spreads tightened. In equity markets, eurozone indices also posted gains. On the FX front, the euro strengthened against its major rivals and traded above the 1.08 level against the US dollar.
  • Today's focus will be on the US Non-Farm Payrolls report. With job creation expected to fall, the report is anticipated to confirm the cooling market suggested by the JOLTS data for May and the latest ADP report. In the eurozone, industrial production data for Germany and France for May just confirmed the weakness of the sector in both economies.