Financial Markets Daily Report24 octubre 2022
Investors closed the week trading cautiously under a volatile setting, still digesting political developments in the UK and signs of lingering inflationary pressures. In Europe, natural gas prices fell notably, following reports that Germany is likely to support a price cap to be included in the next EU package, to be agreed in coming weeks.
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- Investors closed the week trading cautiously under a volatile setting, still digesting political developments in the UK and signs of lingering inflationary pressures. In Europe, natural gas prices fell notably, following reports that Germany is likely to support a price cap to be included in the next EU package, to be agreed in coming weeks.
- Stocks were mixed in Europe but rebounded in the US after news said the Fed might hike rates at a slower pace from December. Sovereign bond yields edged lower while the USD depreciated modestly. This morning, data showed GDP rose by 3.9% y/y in Q3 in China, which together with other activity indicators triggered a selloff in shares across Asia.
- This week, the focus will turn to central banks with policy decisions from the ECB (Thursday) and the Bank of Japan (Friday), among others. On the data front, today the flash PMIs for October are released across advanced economies, Q3 GDP is published in the US on Thursday and the flash inflation prints for Germany and Spain are out on Friday.