Financial Markets Daily Report 12 juliol 2022
In the first session of the week, investors searched for catalysts as they positioned ahead of a key CPI data in the US on Wednesday and the start of the earnings season.
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- In the first session of the week, investors searched for catalysts as they positioned ahead of a key CPI data in the US on Wednesday and the start of the earnings season.
- In this context, stock indices and sovereign yields declined in both sides of the Atlantic, with the US Treasury curve emphasizing its inversion between the 2 and 10 year maturities. In commodity markets, the price of European gas fell on the day Russia shut down flows to Germany through the Nordstream pipeline due to maintenance.
- In FX markets, the euro extended its weakness, reaching a 20-year low and fluctuating slightly above the parity. Concerns about a possible energy crisis in Europe and the aggressive monetary policy tightening by the US Federal Reserve are the main drivers behind this move.
- Today the focus will be on July's ZEW survey expectations for Germany and the euro area.