Diário Financeiro

17 de Julho de 2018
Daily Report 17.07.2018
  • Stock markets started the week with a mixed session and dragged by energy companies. The main U.S. and euro area indices nudged down (with the exception of the U.S. Dow Jones index and the German DAX), while stocks were also lower among emerging economies.
  • In fixed-income markets, sovereign yields nudged up across the board, while in FX markets the dollar depreciated mildly.
  • In oil markets, the barrel of Brent dropped by more than 4.5% amid news that Saudi Arabia is offering extra crude supply to Asian customers and speculation that the U.S. Administration might consider releasing strategic oil reserves to tame rising fuel prices.
  • Yesterday, the IMF published the July update to its World Economic Outlook, in which it projects that global output will grow by 3.9% both in 2018 and 2019. The IMF revised downwards its euro area growth forecasts to 2.2% (-0.2pp) and 1.9% (-0.1pp) for 2018 and 2019, respectively, while leaving unchanged its projections for Spain (at 2.8% and 2.2%). In this update, the IMF alerted that the expansion is growing less even and that downside risks (such as trade tensions and financial volatility) are mounting.