Financial Markets Daily Report24 November 2023
In yesterday’s session, which was closed in the US due to Thanksgiving holiday, investors traded cautiously amid signs of weak economic growth in the euro area in Q4. Although the Composite euro area flash PMI rose modestly from 46.5 points to 47.1, it remained in contractionary territory.
- In yesterday’s session, which was closed in the US due to Thanksgiving holiday, investors traded cautiously amid signs of weak economic growth in the euro area in Q4. Although the Composite euro area flash PMI rose modestly from 46.5 points to 47.1, it remained in contractionary territory.
- By countries, the increase was led by Germany, whose Composite index rose from 45.9 to 47.1, while in France the index ticked down to 44.5. The manufacturing sector continues to show more weakness than the services sector.
- In this context, and supported by the German Finance Minister’s decision to suspend the public spending ceiling for the fourth consecutive year, sovereign yields edged up. Elsewhere, stock indices rose modestly in Europe and in Asia and the euro strengthened against most advanced economies’ currencies, fluctuating above $1.09.
- Today the focus will be on the German IFO survey for November and the US flash PMIs.