Financial Markets Daily Report
26 July 2021

Investors ended the week on a positive mood, supported by upbeat corporate earnings and favourable economic data. Markit's composite PMIs showed that July economic activity remained solid in the U.S. (59.7 points) and accelerated in Europe (EA: 60.6 points, a 21-year high; Germany: 62.5; France: 56.8).

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  • Investors ended the week on a positive mood, supported by upbeat corporate earnings and favourable economic data. Markit's composite PMIs showed that July economic activity remained solid in the U.S. (59.7 points) and accelerated in Europe (EA: 60.6 points, a 21-year high; Germany: 62.5; France: 56.8).
  • Volatility edged down and stocks rose across advanced economies, but EM equities were mixed. Most commodity prices also edged up.
  • Sovereign yields were little changed in the U.S. and in euro area core countries, while euro area peripheral spreads narrowed. In FX markets, the USD strengthened moderately and the EUR stood stable near $1.18.
  • This week the focus will be on the Fed's monetary policy meeting, as well as on the release of flash Q2 GDP estimates (U.S. and several European countries) and July inflation figures in the euro area.
     
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