Financial Markets Daily Report 07 octubre 2020
Markets were mixed in yesterday's session. Stocks in Asia, Europe and emerging economies recovered some of the lost ground in previous days.
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- Markets were mixed in yesterday's session. Stocks in Asia, Europe and emerging economies recovered some of the lost ground in previous days. Yet, U.S. stocks tumbled after President Donald Trump tweeted he will stop negotiations over a new fiscal package until after the presidential election.
- In fixed-income markets, U.S. and euro area sovereign yields nudged down as several central bankers (including Fed Chairman Jerome Powell and the ECB's Chief Economist Philip Lane) warned that the recovery is far from complete, called for renewed fiscal action and reminded that they are ready to adjust all of the monetary policy instruments.
- In FX markets, the USD and the JPY strengthened moderately while the euro fluctuated around $1.17.
- In commodity markets, Brent oil prices rose above $42 supported by the expectation of supply disruptions from a hurricane approaching the Gulf of Mexico and an oil worker strike in Norway.