Daily Report

18 de Julho de 2024
Financial Markets | daily report 18.07.2024
  • Another session of mixed results across markets on Wednesday. Sovereign bond yields remained rather flat amid low trading volumes on both sides of the Atlantic. In the eurozone, all eyes were set on today's ECB meeting, where the bank is expected to leave interest rates unchanged. In the US, Fed officials said they are "closer" to cutting interest rates.
  • Stock market indices were mostly lower, with the exception of Ibex 35, which pushed higher by financials and utilities. In the US, the S&P 500 and Nasdaq fell on concerns that a Trump victory could escalate trade tensions with China, pushing down shares of microchip-dependent tech companies.
  • In the FX market, the dollar weakened against its major peers. The euro strengthened slightly while the yen rose sharply, in what market commentators saw as a strong intervention by the Japanese Ministry of Finance. In commodities, oil prices rose as US crude inventories fell more than expected in the week.