Investors turned more positive during a risk-on session on Tuesday. The key themes remained the potential moderation of interest rate hikes by central banks, COVID outbreaks in China and volatility in energy markets.
Resultats de la cerca
Risk aversion continued to dominate in yesterday's session, with the key themes remaining the COVID situation in China and hawkish comments by central bank officials. In the euro area, both Christine Lagarde and Joachim Nagel said that inflation will remain elevated and might not have peaked yet, justifying a tighter monetary policy stance.
Investors continued to err on the side of caution at the start of the week, with the focus turning to the risk of a global recession amid expectations of further monetary policy tightening from major central banks and the ongoing deterioration in the COVID pandemic in China.
Durant els darrers anys, la indústria manufacturera espanyola ha aconseguit esquivar els pitjors escenaris de caiguda de l’activitat (COVID, colls d'ampolla, crisi energètica). El 2023, s’enfronta a reptes nous: l’impacte de la pujada de tipus d’interès, els efectes dels problemes d’abastament de determinats insums i l’encariment dels costos de producció.
Després de la forta ensopegada que va representar la pandèmia per al sector, la recuperació del turisme internacional a Espanya es pot donar gairebé per completada. Entre els 10 principals receptors mundials de turisme, Espanya ha estat la segona destinació a l’hora de superar el nombre de turistes internacionals preCOVID, només per darrere de Turquia.
In yesterday's session, volatility rose as data on new COVID-19 cases rose in the U.S. and investors digested the Federal Reserve adverse description of the economic outlook.
Investors traded more cautiously as new covid-19 infections and containment measures in China weighed on sentiment.
In the first session of the week, investors traded in a lower volatility environment and weighed, on the one hand, the increase in covid-19 cases around the globe and, on the other, the possibility of additional government stimulus.
In yesterday's session, financial markets experienced risk-off flows as investors were concerned about the spread of new covid-19 cases in the US and media reports suggesting that the White House might be willing to impose new tariffs on $3.1 billion of exports from Europe.
El 2020 ha estat molt dur per a la indústria turística. Totes les mètriques que s’han anat coneixent al final de l’any mostren que l’impacte de la pandèmia sobre el sector ha estat devastador. Després de l’aturada total viscuda durant els mesos de març, abril i maig del 2020, la demanda turística no va aconseguir alçar el vol de manera apreciable durant la resta de l’any, fins i tot no va fer-ho durant els mesos d’estiu, quan semblava que els contagis estaven sota control. A més a més, les onades de COVID-19 viscudes al final del 2020 i al començament del 2021, juntament amb les diferents mesures de restricció a la mobilitat i a l’activitat, han mantingut els fluxos turístics en mínims i han estès les pèrdues patides pel sector.
In the last session of the week, investors traded cautiously amid fears of new covid-19 cases and doubts on a united ECB response in case further stimulus is required. European stock indices edged lower while EM equities surged, led by Chinese equities. US financial markets were closed because of the Independence Day.
Investors started the week with optimism and a risk-on mood. Despite the increase in COVID-19 cases around the globe, optimism surged on the back of better-than-expected business sentiment indicators.
In yesterday's session, investors traded with a risk-off mood due to increased concerns over the speed of the economic recovery as covid-19 cases continue to surge.
Investor sentiment ended the week on the up amid positive reports over a potential antiviral drug to treat COVID-19. As risk appetite rose, stocks increased across Europe and the U.S., the USD weakened and commodity prices advanced (in oil markets, the barrel of Brent closed moderately above $43).
Markets continued to exhibit a mixed performance as investors weighed data releases and increasing COVID-19 infections. European stocks and sovereign yields declined after euro area industrial production had posted a lower-than-expected rebound in May (+12.4% mom and -20.9% yoy). Yet, in FX markets the euro rose towards $1.14.
Positive developments around a potential COVID-19 vaccine fueled a risk-on mood in yesterday's session. Stocks rose across advanced and emerging economies and, in the U.S., shares of Moderna - a company working on a vaccine - surged close to 7% after a small-scale study showed its experimental vaccine produced high levels of antibodies.
In the first session of the week, investor sentiment improved as promising trial results from a potential COVID-19 vaccine renewed investor's hopes.
Financial markets started the week with a mixed session. In Europe, investors traded with a risk-off mood while in the US riskier assets benefited from progress in the negotiations for a new fiscal stimulus package and hopes for a COVID-19 vaccine.
La COVID-19 té un fort impacte sobre l’activitat econòmica d’Espanya i, en particular, sobre el sector turístic. A CaixaBank Research, esperem que el PIB reculi entre el 13% i el 15% el 2020 i que no recuperi els nivells previs a la crisi fins a l’any 2023. Pel que fa al sector turístic, les perspectives són, fins i tot, més adverses per a l’any 2020, ja que és un dels sectors més afectats per la pandèmia.
Markets shrugged off a jump in U.S. inflation and the halt in Johnson & Johnson's COVID-19 vaccine rollout, and investors continued to favor risk assets in yesterday's session. Stocks and commodity prices advanced while the USD weakened moderately against the major currencies.