Evolution of the international financial markets and evaluation of the main events and economic indicators of the previous day session. Available in English.
Financial markets started the week with cautious optimism as headlines on the war in Ukraine continued to weigh on investors' sentiment. Today, Russian and Ukrainian delegates are holding meetings in Turkey, with the Ukrainian authorities reportedly willing to discuss neutrality and other conditions.
Investors traded with cautious optimism at the last session of the week, taking on board a new round of hawkish comments from Fed officials, weak survey data (e. g. the monthly fall in the IFO business climate in March) and the EU-US plan to cut reliance on Russian natural gas. The Ukraine-Russia war has now extended for over 1 month.
Investors traded with a risk-on sentiment on Thursday, following better-than-expected economic sentiment data across advanced economies and after EU leaders refrained from imposing sanctions on Russian energy exports. The US government also announced a plan to boost supplies of liquified natural gas to the EU.
During a volatile session, financial markets experienced risk-off flows, as investors took on board another round of hawkish commentaries from various Fed officials, weak sentiment data in Europe and escalating tensions around Ukraine. Today, officials from NATO and EU leaders are meeting in Brussels to discuss new sanctions to Russia.
Investors traded with a risk-on sentiment on Tuesday, still waiting for more information about the ongoing talks between Russia and Ukraine and digesting hawkish signals from central bankers, with various Fed officials supporting a more aggressive normalization of policy interest rates.
Financial markets started the week with a risk-off session, as traders digested another round of inconclusive peace talks between Russia and Ukraine as well as new hawkish signals from the Federal Reserve.
Investors traded with cautious optimism at the last session of the week, still hopeful a resolution in the Ukraine-Russia conflict could be possible. In addition, a meeting by US President Joe Biden and his Chinese counterpart Xi Jinping over the crisis in Ukraine ended without big surprises.
In yesterday's session investors traded with cautious optimism, weighting solid economic data with negative comments by Russian authorities about the lack of progress in negotiations with Ukraine. Today, US President Joe Biden and his Chinese counterpart Xi Jinping will hold a meeting to discuss the ongoing conflict.
In yesterday's session, investors' sentiment improved amid optimistic comments from Russian officials, which increased the odds of a diplomatic solution, and following the description of the outlook from Jerome Powell, who said the US economy is very strong and with an extremely tight labor market.
In yesterday’s session investors' sentiment improved modestly ahead of today's Federal Reserve meeting, where we expect interest rates to be hiked by 0.25pp. Oil prices declined after lockdowns in China were announced, since that might dampen oil demand, and the barrel of Brent fluctuated below $100.
In the first session of the week, investors remained concerned about the developments in Ukraine and mounting inflationary pressures in advanced economies. Their expectation for a tighter monetary policy from the ECB and the Federal Reserve pushed interest rates up.
In the last session of the week, investors traded cautiously amid ongoing talks between Russian and Ukrainian authorities, although during the weekend Russia intensified aerial attacks on the western part of Ukraine. This week talks are expected to continue between both countries and officials from China and the US will also hold a meeting.