Financial Markets Daily Report
15 November 2022

In the first session of the week, monetary policy centered the stage, with important voices from the ECB and the Federal Reserve advocating for a slower pace of interest rate hikes in the coming months.

FMDR
  • In the first session of the week, monetary policy centered the stage, with important voices from the ECB and the Federal Reserve advocating for a slower pace of interest rate hikes in the coming months.
  • In the US, vice Chair Lael Brainard said that it will appropriate to slow down soon the pace of rate hikes while, in the euro area, Fabio Panetta argued that excessive hikes could deepen the expected economic downturn. In addition, industrial production data for September in the euro area rose by more than expected confirming.
  • In this context, stock indices rose in the euro area while declining in the US, particularly so the tech-heavy Nasdaq. In fixed-income markets, yields on sovereign bonds rose in the US and edged modestly down in the euro area. 
  • Elsewhere, the price of the barrel of Brent increased amid rising Covid cases in China while European natural gas prices rose. The US dollar strengthened against most currencies and the euro fluctuated above $1.03.
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