Daily Report

8 de Julho de 2019
Daily Report 08.07.2019
  • Markets ended the week on a cautious note after a strong U.S. labor market report made investors hesitant about whether the Fed will cut rates in its July meeting. Stocks slid across advanced and emerging economies, while sovereign yields ticked up both in the U.S. and in core and peripheral euro area countries.
  • In FX markets, the USD appreciated moderately against most currencies. This morning, the Turkish lira opened close to 3% lower after President Erdogan had fired the country's central bank governor over the weekend.
  • Data released on Friday showed a strong rebound in U.S. job growth in June. Nonfarm payrolls increased by 224,000 jobs, average hourly earnings rose by 3.1% yoy and the unemployment rate stood at 3.7%.
  • This week, investors will pay close attention to Jerome Powell's testimony to Congress as they look for clues on the Fed's next movement. Accounts of the last Fed and ECB meetings will also be released this week.