Financial Markets Daily Report01 June 2021
European equities dropped as investors looked for the next catalysts to give the market direction. In Spain, shares of utility companies dropped over a draft bill the government is preparing that could drive down electricity prices.
- European equities dropped as investors looked for the next catalysts to give the market direction. In Spain, shares of utility companies dropped over a draft bill the government is preparing that could drive down electricity prices.
- The dollar weakened against most G-10 peers. The euro gained after data showed Germany’s inflation rate rose to the highest level since October 2018, while price pick-ups in May were also reported by Spain and Italy.
- Despite Germany’s inflation increase in May, the 10-year yield remained unchanged. The EU will sell its first common debt in June with an issue of about EU10b, French European Affairs Junior Minister Clement Beaune said.
- Oil climbed after the OPEC+ alliance forecast a tightening market.
- Today, the focus will be on May ISM manufacturing in U.S., May inflation figure for the euro area and the OPEC+ meeting.