Financial Markets Daily Report07 març 2024
In yesterday’s session, investors traded cautiously ahead of today’s ECB monetary policy meeting, where we expect official interest rates to remain unchanged (depo and refi at 4.00 and 4.50%, respectively) and a continuation of the data dependency approach.
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- In yesterday’s session, investors traded cautiously ahead of today’s ECB monetary policy meeting, where we expect official interest rates to remain unchanged (depo and refi at 4.00 and 4.50%, respectively) and a continuation of the data dependency approach.
- Still on central banks, Jerome Powell testified yesterday before the US Congress and offered an optimistic description of the economic outlook. He said that there is no evidence that the US economy is about to fall into a recession. On interest rates, he explained that risks of easing the monetary policy stance too early or too late are balanced.
- In this context, yields on sovereign bonds edged down on both sides of the Atlantic and equities advanced across the board. Elsewhere, the US dollar weakened against most currencies and the euro fluctuated above $1.09, a level not seen since mid-January.