In the first session of the week, investor sentiment improved as promising trial results from a potential COVID-19 vaccine renewed investor's hopes.
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In a session with mixed economic data, investors traded cautiously in Europe while US assets strengthened further.
The spread of new COVID-19 cases weakened investor's sentiment in the last session of August. Stock indices declined in most advanced and emerging economies except for the heavy technology-weighted Nasdaq index, in the US, and the Japanese Nikkei.
In the last session of the week, investors continued to digest the Federal Reserve's new inflation approach, in which it will be more tolerant to inflation increases.
Markets were mixed in yesterday's session as the Fed and its Chairman Jerome Powell announced a change to the longer-run goals and monetary policy strategy. Volatility rose and stocks declined moderately across AEs and EMs.
Investor optimism continued to favor risky assets in yesterday's session. Volatility nudged up, but stocks continued to rise across the board.
Investors traded more cautiously in yesterday's session -in spite of the meeting between U.S. and Chinese trade officials, in which they reaffirmed the implementation of the phase-one trade deal which had been signed in January. In this context, U.S. and EM stocks advanced moderately, while European stock market indices were mixed.
Investors started the week on a positive note amid optimism over medical advances against the coronavirus. Volatility nudged down and stock markets rose across advanced and emerging economies.
In August, investors have been trading on a cautiously positive note –weighing the recovery in activity indicators against ongoing and renewed coronavirus outbreaks across advanced and emerging economies. In this context, somewhat lower risk aversion has eased pressures on safe-haven assets and favored the performance of risky assets.
During a busy day for economic data releases, investors digested the record-low GDP growth figures in the US and Germany and demand for safe-haven assets rose.
Yesterday, investors in the US traded with optimism as the Federal Reserve kept its official interest rates unchanged and reiterated its intention to "act as appropriate to support the economy".
In yesterday's session, financial markets were mixed as traders digested worse-than-expected corporate earnings releases.
Financial markets started the week with a mixed session. In Europe, investors traded with a risk-off mood while in the US riskier assets benefited from progress in the negotiations for a new fiscal stimulus package and hopes for a COVID-19 vaccine.
Investors ended the week in a cautious mood as rising U.S.-China tensions overshadowed a rebound in economic sentiment indicators.
Financial markets performed poorly in yesterday's session amid worse-than-expected US labor market data (initial unemployment claims rose last week for the first time since late March) and rising tensions between the US and China.
In yesterday's session investors traded cautiously as they digested political developments. On the one hand, tensions between the US and China rose as the White House gave China 72 hours to close its consulate in Houston amid accusations of spying. China has said it intends to retaliate.
Yesterday investors traded on a risk-on mood on the back of an historical agreement in the EU. The €750bn stimulus plan agreed will consist of €390bn in grants and €360bn in loans.
In the last session of the week, investors traded cautiously amid fears of new covid-19 cases and doubts on a united ECB response in case further stimulus is required. European stock indices edged lower while EM equities surged, led by Chinese equities. US financial markets were closed because of the Independence Day.
Stocks rallied in yesterday's session, supported by recovering economic data. In particular, U.S. nonfarm payrolls surged by 4.8 million in June –the largest increase on record, even though the unemployment rate still stood above 10% (11.1% in June down from 13.3% in May). Yet, U.S. sovereign yields nudged down and the USD strengthened.
Volatility nudged down in the first session of Q3 2020. U.S. stocks advanced moderately as economic indicators recovered (ISM manufacturing at 52.6 points in June, its first reading above the 50-threshold since early 2020). Elsewhere, stocks declined in Europe and gained in EM.