Evolution of the international financial markets and evaluation of the main events and economic indicators of the previous day session. Available in English.
In yesterday's session investors' sentiment continued to improve moderately amid mixed comments by Federal Reserve and ECB members. In the US, Cleveland Fed President Loretta Mester said that she expects inflation to ease during the course of 2022, as the Fed tightens credit conditions.
In yesterday's session, investors' sentiment remained cautiously optimistic, with the focus still on the pace of monetary policy tightening in advanced economies, corporate results (in the US, 76% of the companies that have released their profits have beaten consensus estimates) and geopolitical developments.
Investors started the week trading with caution as they continued to digest the positive figures of the January's employment report in the US and took positions ahead of Thursday's release of CPI inflation. In the euro area, ECB comments moderated financial markets expectations for a big monetary policy tightening.
In the last session of the week investors focused on the increasing bets for a tightening of monetary policy across advanced economies and the better-than-expected corporate earnings releases.
Investors traded with caution on Thursday, digesting a hawkish shift by major central banks in Europe and disappointing earnings results from some US tech giants.
Financial markets ended the day with mixed results, with investors weighting in a batch of positive earnings reports with rising inflation data and weak signals from the US labour market.
Investors continued to trade with a positive mood on Tuesday, with solid corporate earnings reports outweighing hawkish signals from central bankers and higher-than-expected inflation prints.
Financial markets started the week with a risk-on session, as investors shifted their focus to corporate earnings and economic indicators, taking a breath from the prospect of monetary policy tightening by the major central banks.
Financial markets closed last week with mixed results, with equity prices falling across Europe and EMs but recording a late-session rally in the US, as investors weighed the prospect of a more aggressive withdrawal of monetary policy stimulus by the Fed with upbeat earnings reports from some key US tech firms (e.g. Apple).
In yesterday’s session investors continued to digest the outcome of the Fed’s meeting and received positively the US 4Q GDP data (up by 1.7% qoq).
During a volatile session, the risk-on mood recorded during the first hours of trading was eclipsed by a hawkish stance during the first Federal Reserve meeting of the year.
In yesterday's session, financial markets remained volatile amid rising geopolitical tensions around Ukraine. In addition, the new IMF macroeconomic forecasts did not have a positive impact on investors' sentiment as they showed a lower growth of global GDP for 2022 (from 4.9% to 4.4%), with a broad-based revision across the main economies.