Daily Report

22 de Julho de 2024
Financial Markets | daily report 22.07.2024
  • Investors' attention during Friday's session focused on the worldwide cyber outage that affected banks, airlines, and telecommunications companies. The software glitch unnerved investors and dragged down overall sentiment, affecting mostly equity markets which ended the session lower across the globe.
  • In sovereign debt markets, yields ended higher in the euro area following remarks from ECB officials who reinforced the central bank's data-dependent strategy. However, other members backed market expectations for two more rate cuts this year. In the US, Treasury yields were also higher ahead of the release of Q2 GDP later this week.
  • The US dollar climbed amid the cybersecurity outage, leaving its cross with the euro around $1,08. The yen was down against the dollar despite data confirming inflation rose in June in Japan, raising hopes of an interest rate hike.
  • Yesterday, President Biden dropped out of the presidential race. VP Kamala Harris will seek the Democratic nomination.