Financial Markets Daily Report05 October 2023
In yesterday’s session, economic sentiment data releases were the focus of investors’ attention. In both Europe and the US, better-than-expected, but still weak economic data, pushed sovereign yields down on both sides of the Atlantic amid an upward trend in previous sessions.
- In yesterday’s session, economic sentiment data releases were the focus of investors’ attention. In both Europe and the US, better-than-expected, but still weak economic data, pushed sovereign yields down on both sides of the Atlantic amid an upward trend in previous sessions.
- In the US, the September ISM services index dropped from 54.5 to 53.6 and in the euro area services September PMIs were revised 0.5 points higher in Germany and France (44.4 and 50.3, respectively). In Spain, the services Index rose in September from 48.6 to 50.1, barely in the expansionary territory.
- Against this backdrop, stock indices were mostly flat across the euro area, and edged higher in the US. The US dollar was down for most of the session, and the euro appreciated hovering around $1.05. Oil prices slipped amid news of weaker fuel demand. Today, industrial production data will be released for some euro area countries.