Investor sentiment improved in yesterday's session with the expectation of an extension of the accommodative monetary policy stance. Analysts expect Christine Lagarde to follow Mario Draghi's approach and provide monetary stimulus in the coming quarters.
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In yesterday's session, investors traded in a cautious mood and demand for safe haven assets increased.
Investors traded with a cautious mood in yesterday's session amid improving economic sentiment indicators. In particular, services PMIs improved in the euro area but remain in contraction territory (below 50).
Treasury yields fell as Federal Reserve Chairman Powell testified before Congress that rising inflation is likely to be transitory and that the central bank would continue to support the economy. The Bank of Japan left its 10-year bond yield target unchanged at about 0% after concluding its meeting and also kept the policy-balance rate at -0.1%.
The resumption in trade negotiations between China and US boosted stock indices across the globe at the beginning of yesterday's session.
Last Friday, investors' sentiment worsened amid rising COVID-19 cases, now more contagious with the Delta variant.
In the last session of the week investors traded in a cautious mood ahead of an eagerly anticipated political weekend.
Yesterday, investors traded cautiously ahead of the eagerly anticipated U.S.-China meeting on Saturday and amid mixed messages from the U.S. Administration regarding trade negotiations.
Financial markets were relatively quiet in the first session of the week as investors await for the several central bank decisions and communications expected for this week (most notably Fed, Bank of England and Bank of Japan).
Financial markets' tone improved for the second day in a row on the back of previous Fed comments saying that it would support the economy in case the scenario worsens, mixed economic data releases and brighter investor expectations on trade tensions between Mexico and the U.S.
In yesterday session, global financial markets were driven by the dovish communication from the ECB and the developments in the negotiations between the U.S. and Mexico.
Global markets started the week on a positive note after U.S. President Trump suspended plans for tariffs on Mexico.
Markets underwent a relatively quiet session as they paused to assess the scenario.
Risk-off sentiment picked up in yesterday's session as sources talked down expectations on a successful Trump-Xi meeting in the G20 summit. Stocks declined across advanced and emerging economies, driven by technology and commodities shares, and yields on U.S. and German sovereign bonds nudged down.
Markets traded in a cautious mood in yesterday's session and advanced-economy stocks advanced moderately.
In the last session of the week, stock indices declined across the globe and sovereign yields edged lower amid continuing concerns over trade tensions between the U.S. and China and better-than-expected U.S. retail sales.
In the first session of the week, investors traded with a risk-off mood amid rising COVID-19 cases and concerns that the Delta variant might delay the economic recovery. Demand for safe haven assets (such as US Treasuries, the Swiss Franc or the Japanese Yen) increased.
Volatility edged higher and stocks declined across advanced and emerging economies as U.S. officials played down expectations of a breakthrough in trade talks when Presidents Trump and Xi Jinping meet this week at the G20 summit.
Investors started the week in a cautious mood as they eye the upcoming G20 summit at the end of this week, in which Presidents Trump and Xi Jinping are expected to meet and discuss the possibility of resuming trade talks.
In yesterday's session, investors extended the sell-off of equity and most stock indices across advanced economies registered losses. Jerome Powell reiterated in a speech that the Fed is committed with its objectives and that it will keep easy credit conditions even when economic conditions improve.