Financial Markets Daily Report

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Markets were mixed on Thursday. EM and U.S. stocks ended lower while European equities rebounded from a seven-week low, led by the travel and leisure sector.

Yesterday, investors continued to trade in a cautious mood. Asian stocks dropped after weak retail sales and industrial production data in China. In advanced economies, European equities declined while U.S. stocks rose on the back of greater optimism on the U.S. economic outlook.

Markets traded in a cautious mood in yesterday's session. Stocks were mixed across advanced and emerging economies while in FX markets the USD strengthened against the major currencies. In commodity markets, prices were little changed.

Markets started the week on a moderately positive note. In a session with no major economic releases, volatility declined, stocks rose moderately across advanced economies, and EM equities were mixed.

Investors ended the week in a mixed mood. Volatility jumped and stock markets declined across many advanced economies. In contrast, EM equities posted moderate gains.

Financial markets ended the day with mixed results, as investors digested a decision by the ECB to scale down its asset purchases and, separately, hawkish comments by some Fed officials about the likely start of tapering this year. These fears outweighed positive labour data in the US (new jobless claims fell to 310k last week, a pandemic-era low).

In yesterday’s session, investors continued to trade with a risk aversion mood, extending recent losses across the main equity markets. In its Beige Book, the Fed noted that economic growth is downshifting due to the spread of the Delta variant, while several Asian countries are extending restrictions to control the outbreak.

Financial markets ended the day with mixed results, as investors balanced fears about lingering supply constraints and pandemic-related risks with expectations that monetary policy will remain accommodative.

Financial markets recorded a positive start of the week, as investors increased the likelihood that the Fed will postpone the decision about when to start tapering its asset purchases.

Markets ended the week on a negative mood, following the release of weaker than expected employment data in the US (non-farm payrolls rose by 235k in August after 1,053k in July). The disappointing figures could well postpone a decision by the Fed to taper its asset purchases for later this year.

Markets traded on a positive mood in yesterday's session. Optimism on the economic recovery sent commodities and advanced-economy stocks higher, and in FX markets the USD eased against the major currencies. Yet, EM equities and currencies were mixed.

Investors extended their risk apetite amid positive global manufacturing PMI releases. In August, factory activity remained strong in most economies, but several surveys continued to signal disrupted supply chains and labour shortages as the main risks. In the U.S., the input price index fell from 85.7 points towards 79.4.