Investors kicked-off the week with a quiet session following last week's heavy-data week, which included US Q1 GDP andeuro area inflation. This week, markets' attention will shift back to central meetings. The Fed is expected to hold rates steadyon Wednesday, and the BoE is expected to deliver a 25bp rate cut on Thursday.
The US ISM services index suggested the sector expanded in April, while the measure of prices paid by services businesssectors picked up to its highest level in two years raising inflation concerns again. US Treasury yields rose, and US stocks fell.In the euro area, markets had a quiet session, with sovereign yields falling slightly and stocks having a mixed session.
In commodities, oil prices fell close to $60/barrel of Brent after OPEC+ announced the group would increase supply by411,000 barrels a day in June. Saudi Arabia further warned members it would deliver further production increases ifmembers do not comply.
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.