Financial Markets Daily Report 25 gener 2023
In yesterday's session, investors weighed mixed corporate earnings results with better-than-expected flash January PMIs. In particular, the composite indices for the euro area and the US edged up from 49.3 and 45.0 to 50.2 and 46.6, respectively. Both sectors, services and manufacturing, registered an improvement from the previous month.
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- In yesterday's session, investors weighed mixed corporate earnings results with better-than-expected flash January PMIs. In particular, the composite indices for the euro area and the US edged up from 49.3 and 45.0 to 50.2 and 46.6, respectively. Both sectors, services and manufacturing, registered an improvement from the previous month.
- In this context, equities slipped in the US while closing mixed in the euro area. In fixed-income markets, yields on sovereign bonds declined in both sides of the Atlantic, with the 10-year US Treasury fluctuating below 3.50%, and euro area peripheral spreads narrowed.
- In FX markets, the euro strengthened against several advanced economies' currencies and got closer to $1.09, a level not seen since early April 2022.
- Today the focus will be on the January Ifo survey in Germany and the December PPI in Spain.