Financial Markets Daily Report26 octubre 2022
Risk appetite extended gains across markets on Tuesday, as investors took on board positive signals from corporate earnings, a further softening in US sentiment and housing indicators and a decline in gas prices across the globe.
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- Risk appetite extended gains across markets on Tuesday, as investors took on board positive signals from corporate earnings, a further softening in US sentiment and housing indicators and a decline in gas prices across the globe.
- In commodity markets, natural gas prices in Europe remained below 100 EUR/MWh after the German Economy Minister Robert Habeck said the EU member states reached a deal on joint gas purchases. Meanwhile, natural gas prices in West Texas dipped below zero as production increased amid pipeline maintenance.
- In this context, sovereign bond yields fell notably across the board, with investors revising down their expectations about future interest rate hikes. Stocks also rebounded while the USD depreciated, nearing parity against the EUR.
- Today, the focus will turn to central banks with monetary policy announcements in Canada and Brazil, ahead of decisions by the ECB tomorrow and the Bank of Japan on Friday.