Financial Markets Daily Report 05 October 2022
In yesterday's session, investors maintained their appetite for riskier assets, after a drop in the number of job vacancies in the US fueled expectations of a monetary policy pivot from the Fed. In this direction, the central bank of Australia decided to hike rates by 25bp, slowing down the pace of its tightening.
- In yesterday's session, investors maintained their appetite for riskier assets, after a drop in the number of job vacancies in the US fueled expectations of a monetary policy pivot from the Fed. In this direction, the central bank of Australia decided to hike rates by 25bp, slowing down the pace of its tightening.
- In this context, yields on sovereign bonds declined in both sides of the Atlantic and stock indices rose across the globe. In FX markets, the US dollar weakened against most advanced and emerging economies' currencies.
- In commodity markets, Brent oil prices continued to rise as OPEC+ is expected to curb production at its meeting today. By contrast, European natural gas prices declined further.
- Today the focus will be on the final PMIs for September, the US ADP employment report and the ECB non-monetary policy meeting, where Governing Council members might start discussing quantitative tightening.