What markets tell us about macroeconomics Financial markets Isabela Lara White Jesús Manuel Carrera Moreno Mon, 05/18/2026 - 11:00
Dependencias estratégicas y exposición geopolítica del sector exterior español Catalina Becu Jue, 28/05/2026 - 06:30
Shadows (and some light) in Europe’s industrial decline International economy David Martínez Turégano Mon, 05/18/2026 - 11:13
Financial Markets Daily Report 03 June 2026 Yesterday's was another volatile session, with markets assessing the fragility of the recent ceasefire agreement between the US and Iran, as Israel maintains its attacks against Lebanon. Brent crude prices closed higher at USD 96/barrel after briefly touching USD 93 during the session, while TTF natural gas prices closed down -3%. Currencies EUR/USD EUR/USD has traded largely sideways since mid‑2025, hovering around 1.17, after a year of elevated volatility. The currency pair appears to have stabilised between its long‑term historical averages, around 1.12 (10‑year average) and 1.22 dollars per euro (20‑year… CaixaBank Research 28 May 2026 Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven The adoption of artificial intelligence (AI) in Spanish firms has accelerated in recent years, but the process has been uneven and remains incomplete. This article analyses the extent of AI penetration considering four key dimensions: company size, sectoral differences,… Javier García Arenas Pedro Álvarez Ondina 18 May 2026 Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? International tourism spending accelerated slightly in March 2026, driven by the redirection towards Spain of tourist flows from the main European source countries. This upturn offset the decline in tourism from East Asia, which, although intense, represents only a small… David Cesar Heymann 18 May 2026 Spain's outlook The Spanish economy remains resilient in an uncertain environment The latest indicators depict an economy that remains resilient amid the entrenchment of the conflict in the Persian Gulf. Among the various channels through which this conflict can affect the economy, the most visible impact so far is in inflation, through the rise in… CaixaBank Research 18 May 2026 European Union Shadows (and some light) in Europe’s industrial decline David Martínez Turégano 18 May 2026 Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026 Artificial intelligence (AI) The AI buzz in financial markets CaixaBank Research 14 May 2026 Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026 Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026 Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026 Publications Monthly ReportNo. 511| The present and futures of the new AIconomy May 2026 SpainSpain’s Macroeconomic & Financial Outlook12 May 2026 Sectorial ReportReal Estate. Increasing supply, the great challenge of the Spanish real estate market S1 2026 Sectorial ReportTourism. Spanish tourism sector: from post-pandemic rebound to sustainable growth S1 2026 PortugalPortugal’s Macroeconomic & Financial Outlook13 February 2026 Sectorial ReportAgrifood. The Spanish agrifood sector gains momentum 2025 Sectorial ReportSectoral Observatory S1 2025 Sectorial ReportManufacturing Industry 2023 Opinion Editorial Economy and markets between two tides: geopolitics and artificial intelligence José Ramón Díez Head of International Economics & Markets Key points of the month Hormuz: time is against us Oriol Aspachs Head of Spanish Economics Recommended Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven Javier García Arenas Pedro Álvarez Ondina 18 May 2026 Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? David Cesar Heymann 18 May 2026 Spain's outlook The Spanish economy remains resilient in an uncertain environment CaixaBank Research 18 May 2026 European Union Shadows (and some light) in Europe’s industrial decline David Martínez Turégano 18 May 2026 Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026 Artificial intelligence (AI) The AI buzz in financial markets CaixaBank Research 14 May 2026 Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026 Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026 Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026Most readHow has the profile of non-resident foreigners who buy homes in Spain changed?Shadows (and some light) in Europe’s industrial declineThe COVID-19 outbreak boosts remote workingWhat do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran?What markets tell us about macroeconomics NewsletterBeing informed now ismore important than everGet our latest updates Sign in Hot topics Fundamentals of growth in Spain Climate change & green transition Podcasts La economía de la IA: de la carrera global a la productividad 22/05/2026 Forecasts Financial markets Interest rate (%)Update date 11-05-20262024202520262027 Fed Funds 4.25 3.50 3.00 3.00 ECB Refi 3.24 2.15 2.15 2.15 Macroeconomic GDP (%)Update date 11-05-20262024202520262027 Euro area GDP 0.8 1.5 1.3 1.5 Spain GDP 3.5 2.8 2.4 2.0 US GDP 2.8 2.1 2.6 2.0 Team Jesús ViscarriOrganization Ana María PorrasOrganization Alberto GrazianoSenior Data Scientist José Antonio Sánchez PalominoData scientist Eduard Alcobé GarciaData scientist Imelda EstebanSenior economist Enric FernándezChief Economist Meet us Luís Pinheiro de MatosEconomist Isabela Lara WhiteEconomist Josep Mestres DomènechLead economist Ariadna Vidal MartínezLead economist Roser FerrerSenior economist María Romero MeléndezEconomista Patricia EstebanCommunication Meet us Catalina BecuResearch assistant Oriol Carreras BaquerSenior economist Beatriz Villafranca SerranoEconomist Judit Montoriol GarrigaLead economist Léopold JouvenEconomist Adrià Morron SalmeronLead economist Maitane LizarragaAnalyst Meet us Zoel Martín VilatóEconomist David Martínez TuréganoSenior economist Sandra Jódar RosellDirector of Strategic Planning Sergio DíazEconomist Oriol AspachsHead of Spanish Economics David del ValSenior economist Rita Sánchez SolivaEconomist Meet us Pedro Álvarez OndinaEconomist Ana Rincón GarcíaOrganization Jesús Manuel Carrera MorenoResearch assistant Mireia CrusellsAnalyst Nuria BustamanteLead economist Mar Bisquert PerlesData scientist Javier Ibáñez de Aldecoa FusterEconomist Meet us David Cesar HeymannEconomist Javier García ArenasSenior economist Marina Tombas SuñéData Scientist José Ramón DíezHead of International Economics & Markets Carolina CruzOrganization Meet usPrint
Currencies EUR/USD EUR/USD has traded largely sideways since mid‑2025, hovering around 1.17, after a year of elevated volatility. The currency pair appears to have stabilised between its long‑term historical averages, around 1.12 (10‑year average) and 1.22 dollars per euro (20‑year… CaixaBank Research 28 May 2026
Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven The adoption of artificial intelligence (AI) in Spanish firms has accelerated in recent years, but the process has been uneven and remains incomplete. This article analyses the extent of AI penetration considering four key dimensions: company size, sectoral differences,… Javier García Arenas Pedro Álvarez Ondina 18 May 2026
Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? International tourism spending accelerated slightly in March 2026, driven by the redirection towards Spain of tourist flows from the main European source countries. This upturn offset the decline in tourism from East Asia, which, although intense, represents only a small… David Cesar Heymann 18 May 2026
Spain's outlook The Spanish economy remains resilient in an uncertain environment The latest indicators depict an economy that remains resilient amid the entrenchment of the conflict in the Persian Gulf. Among the various channels through which this conflict can affect the economy, the most visible impact so far is in inflation, through the rise in… CaixaBank Research 18 May 2026
European Union Shadows (and some light) in Europe’s industrial decline David Martínez Turégano 18 May 2026
Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026
Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026
Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026
Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026
Sectorial ReportReal Estate. Increasing supply, the great challenge of the Spanish real estate market S1 2026
Sectorial ReportTourism. Spanish tourism sector: from post-pandemic rebound to sustainable growth S1 2026
Economy and markets between two tides: geopolitics and artificial intelligence José Ramón Díez Head of International Economics & Markets
Artificial intelligence (AI) AI adoption in Spanish firms is advancing rapidly but remains limited and uneven Javier García Arenas Pedro Álvarez Ondina 18 May 2026
Tourism What do high-frequency data tell us about international tourism in Spain after the outbreak of the war in Iran? David Cesar Heymann 18 May 2026
Spain's outlook The Spanish economy remains resilient in an uncertain environment CaixaBank Research 18 May 2026
European Union Shadows (and some light) in Europe’s industrial decline David Martínez Turégano 18 May 2026
Financial markets What markets tell us about macroeconomics Isabela Lara White Jesús Manuel Carrera Moreno 18 May 2026
Artificial intelligence (AI) Productivity and employment in the face of generative AI: what do we know? Oriol Carreras Baquer 14 May 2026
Portugal outlook Portugal: the effects of the conflict begin to show through CaixaBank Research 14 May 2026
Financial markets outlook Financial markets: a disconnect between risk and energy? CaixaBank Research 14 May 2026