On Friday, the Japanese yen strengthened sharply after the Bank of Japan left its policy rate at 0.75% and signaled a hawkish stance. Speculation around potential currency intervention intensified after New York Fed officials reportedly sought information on the yen’s exchange rate, and Prime Minister Takaichi warned of action against “abnormal” market moves.
Euro area PMI releases came in broadly in line with expectations. The German yield curve shifted modestly higher, leading to a narrowing of peripheral spreads, most notably in France, after Prime Minister Sébastien Lecornu pushed the budget through parliament following two failed no-confidence motions.
In commodity markets, Brent crude prices rose after President Donald Trump announced an increased US military presence in Iran. Natural gas prices rose amid cold weather forecasts, while peace talks for the war in Ukraine resumed in Abu Dhabi. This week, investors will be attentive to the flash releases of several european countries Q4 GDP.
BANCO BPI, S.A., com sede na Avenida da Boavista, 1117, 4100-129 Porto; Capital Social: € 1 293 063 324,98; matriculada na CRC Porto sob o número de matrícula PTIRNMJ 501 214 534, como o número de identificação fiscal 501 214 534. Intermediário financeiro registado na CMVM com o n° 300 e no Banco de Portugal sob o código n° 10. Agente de Seguros n.º 419527591, registado junto da Autoridade de Supervisão de Seguros e Fundos de Pensões em 21/01/2019, e autorizado a exercer atividade nos Ramos de Seguro Vida e Não Vida.