Daily Report

8 de Janeiro de 2025
Financial Markets | daily report 08.01.2025
  • Tuesday's session saw a slight divergence in risk appetite on both sides of the Atlantic. In the US, a raft of data showed a dynamic economy: job openings unexpectedly rose in November; while the services PMI rose to 54.1 in December, and the prices paid component reached 64.4. Treasury yields rose on the news, with the curve steepening, weighing on equities.
  • Meanwhile, Eurozone equity indices posted gains despite government bond yields rose too. Eurozone investors focused on inflation, which rose as expected in December: headline CPI rose to 2.4%, mainly due to higher energy costs, while core CPI stood at 2.7%. Although this blip is unlikely to derail further ECB cuts, money market benchmarks yields rose on the news.
  • In the FX market, positive US data strengthened the dollar against its major peers, especially the euro, as investors' expectations for further Fed cuts diminished slightly. In commodities, the Brent crude oil benchmark rose on expectations of higher US demand due to exceptionally cold weather and tighter supply due to Western sanctions on Russia and Iran.