Daily Report

31 de Julho de 2024
Financial Markets | daily report 31.07.2024
  • Sentiment was mixed in yesterday's session amid a raft of economic data. In the euro area, slightly higher-than-expected Q2 GDP (0.6% yoy vs. 0.5% expected), with France (1.1% yoy vs. 0.7% expected) and Spain (2.9% yoy vs. 2.5% expected) leading the surprises, supported equity markets. Sovereign bond yields edged lower ahead of today's inflation data.
  • In the US, markets saw a risk-off session as investors awaited the Fed's FOMC decision today, widely anticipated to hold interest rates at their current level. Negative sentiment around the technology sector and the AI narrative also continued to drag down equity markets and support Treasuries.
  • Elsewhere, the yen extended its gains vs. the dollar ahead of yesterday's BoJ meeting. This morning, the Japanese Central Bank raised the overnight call rate target from 0-0.1% to 0.25%. In commodity markets, oil prices slid for another session as worries about weak demand from China continued to mount.