Financial Markets Daily Report
26 November 2021

In a session with low volumes due to the bank holiday in the U.S., investors traded with a risk-on mood, still supported by the better-than-expected economic data releases earlier on the week as well as the dovish signals in the minutes of October’s ECB meeting.

FMDR
  • In a session with low volumes due to the bank holiday in the U.S., investors traded with a risk-on mood, still supported by the better-than-expected economic data releases earlier on the week as well as the dovish signals in the minutes of October’s ECB meeting.
  • In particular, the account of the October 28 policy meeting hinted at the possibility that the ECB could decide to keep net PEEP purchases beyond March 2022, if needed. In addition, ECB officials ruled out hiking policy rates in 2022.
  • In this context, stocks rose across Europe while sovereign bond yields ticked down. The exchange rate of the EUR against the USD fluctuated near the 1.12 mark, the lowest since June 2020.
  • The economic calendar is light today. The key focus will be a number of speeches by ECB governing council members, including the president Christine Lagarde.
     
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