Financial Markets Daily Report22 novembre 2021
Markets ended the week with a risk-off sentiment, driven by hawkish commentary by some Fed officials about the potential need to readjust policy to deal with the rebound in inflation. In contrast, ECB president Christine Lagarde reiterated prices will stabilize in the euro area in line with the central bank's target.
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- Markets ended the week with a risk-off sentiment, driven by hawkish commentary by some Fed officials about the potential need to readjust policy to deal with the rebound in inflation. In contrast, ECB president Christine Lagarde reiterated prices will stabilize in the euro area in line with the central bank's target.
- In this context, the EUR depreciated below the 1,13 level against the USD. Stocks fell in both sides of the Atlantic while sovereign yields declined modestly, both also reflecting investors' concerns about a deterioration in the COVID outbreak in Europe. In commodities, the price of a barrel of Brent declined below 80$.
- This week, the focus will be on the flash PMI November survey for advanced economies (Tuesday) and the release of the accounts of the October monetary policy meetings by the Fed (Wednesday) and the ECB (Thursday). Financial markets are also closed in the US on Thursday due to Thanksgiving Day.