Financial Markets Daily Report 25 juliol 2023
The global economic outlook centered the stage in yesterday’s session as investors focused on July’s flash PMIs. In the euro area, the soft growth momentum was visible in the fall of the services (51.1) and manufacturing (42.7) indices. In the US, the manufacturing PMI rose and got closer to the 50-point threshold, but the services PMI lost steam.
Contingut disponible en
- The global economic outlook centered the stage in yesterday’s session as investors focused on July’s flash PMIs. In the euro area, the soft growth momentum was visible in the fall of the services (51.1) and manufacturing (42.7) indices. In the US, the manufacturing PMI rose and got closer to the 50-point threshold, but the services PMI lost steam.
- In this context, yields on sovereign bonds edged down in the euro area, amid investor's concerns of a slowdown in economic activity, while increasing in the US. In stock markets, equities were mixed.
- Elsewhere, the US dollar strengthened against most advanced and emerging economies’ currencies and the euro traded below $1.11. The price of the barrel of Brent increased and fluctuated above $82.
- Today the focus will be on July sentiment indicators for Germany (IFO survey) and for the US (Conference Board consumer confidence).