Financial Markets Daily Report 27 May 2022
Investors continued to trade with a risk-on mood on Thursday, lifting demand for “buying the dip” and after the release of positive economic data (e.g. the decline in weekly jobless claims in the US).
- Investors continued to trade with a risk-on mood on Thursday, lifting demand for “buying the dip” and after the release of positive economic data (e.g. the decline in weekly jobless claims in the US).
- The positive tone fueled a broad-based rally in equity indices, with retailers, banks and industrials leading the way, after a raft of solid retail earnings. The EUR also continue its upward movement against the USD while spreads in sovereign bonds across the eurozone periphery declined notably.
- In commodity markets, oil prices continued to march higher, after data released earlier on the week showed crude inventories in the US declined further in the run-up of the start of the summer driving season.
- Today the focus will be on the release of the April’s PCE price index report in the US, the inflation metric favored by the Fed. Markets will be closed on Monday in the US (Memorial Day).