Financial Markets Daily Report 06 julio 2020
In the last session of the week, investors traded cautiously amid fears of new covid-19 cases and doubts on a united ECB response in case further stimulus is required. European stock indices edged lower while EM equities surged, led by Chinese equities. US financial markets were closed because of the Independence Day.
- In the last session of the week, investors traded cautiously amid fears of new covid-19 cases and doubts on a united ECB response in case further stimulus is required. European stock indices edged lower while EM equities surged, led by Chinese equities. US financial markets were closed because of the Independence Day.
- Media reports suggested that some ECB Governing Council members are concerned on the PEPP biased weight towards countries severely affected by the pandemic, such as Italy or Spain. Nevertheless, the euro remained barely flat and the US dollar weakened against most advanced economies' currencies.
- In Spain, business sentiment indicators rebounded in June and the composite PMI rose to 49.7 points (29.2 in May), very close to the expansive territory (50 points). In May, industrial production rose by 14.7% mom (-22.1 in April).
- This week, investors will focus on May's industrial production figures in Germany (Tue.), France and Italy (Fri.).