During yesterday's session, the Japanese equity index Nikkei-225 fell nearly 2% amid concerns over a potential currency intervention. Global stocks advanced modestly, as investors traded cautiously ahead of a heavy earnings calendar, with major tech firms reporting later this week (up to 33% of the S&P 500 capitalization reports this week).
The Fed's monetary policy January meeting will start today, while the ECB meets next week. Both central banks are broadly expected to keep policy rates at their current levels. Government bond yields fell on both sides of the Atlantic, especially in the euro area and in France, after PM Sébastien Lecornu forced the budget through the parliament last Friday.
The dollar continued to weaken broadly, particularly against the yen. In commodity markets, gold prices extended their week-long rally and closed, for the first time on record, above $5000/ounce. Trading price is now close to $5100/ounce. Oil and gas prices fell, reversing part of the gains from previous sessions.
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.