Daily Report

29 de Julho de 2024
Financial Markets | daily report 29.07.2024
  • Investors ended the week with renewed risk appetite as inflation data released during the day was broadly in line with expectations. In the US, the core PCE price index rose 0.2% month-on-month in June, as expected, bolstering hopes of a Fed rate cut in September. In the eurozone, 1- and 3-year inflation expectations remained at 2.8% and 2.3% respectively.
  • In this context, eurozone government bond yields fell slightly, while peripheral spreads remained unchanged. US Treasury yields declined with greater strength across the curve. In the stock market, most European indices posted gains, as did the US blue-chip indices, after several sessions of losses due to the rotation out of large technology companies.
  • In currency markets, the euro and the dollar were broadly flat against their peers, while in commodities, oil fell on concerns about weak Chinese demand. This week, all eyes will be on central bank meetings in the US and Japan on Wednesday, while the UK's BoE will meet on Thursday. On the data front, Eurozone Q2 GDP will be released on Tuesday.