Daily Report

24 de Maio de 2023
Financial Markets | daily report 24.05.2023
  • The political impasse over the US debt ceiling continued weighing on investors sentiment in yesterday's session, as staff-level negotiations held on Tuesday yielded little progress.
  • On the data front, the PMIs showed business growth in both sides of the Atlantic remained resilient, although entirely driven by services, as the industrial weaknesses deepened. In the eurozone, services price pressures remained elevated, while the index for new business index fell.
  • In this context, bond yields were broadly unchanged, while stocks recorded losses across the board. The risk-off mode appreciated the USD against its major peers, bringing it to 1.07 USD against the EUR. Oil prices rose on forecasts for a tighter gasoline market, with the Brent reference adding 1.1%.
  • Today the focus will be the minutes of the last Fed meeting and Germany's IFO business survey.