Financial Markets Daily Report17 octubre 2022
On Friday, the survey of the University of Michigan showed an increase in inflation expectations for the US, which led to a rise in sovereign yields and sharp losses on US stock indices. Meanwhile, in Europe, equities managed to register moderate advances. The US dollar strengthened against most currencies and the euro fluctuated below $0.98.
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- On Friday, the survey of the University of Michigan showed an increase in inflation expectations for the US, which led to a rise in sovereign yields and sharp losses on US stock indices. Meanwhile, in Europe, equities managed to register moderate advances. The US dollar strengthened against most currencies and the euro fluctuated below $0.98.
- In commodity markets, the price of Brent oil moderated amid fears of lower global demand.
- On the political front, the UK PM Liz Truss replaced the Chancellor of the Exchequer for Jeremy Hunt, who is due to make a statement today on the fiscal strategy. In China, President Xi signaled no change in direction for the COVID zero strategy and the housing market policies, providing little support to the subdued economic outlook.
- This week is relatively light on economic data releases. On Wednesday Eurostat will release the September final figures for euro area inflation and on Friday the October EC consumer confidence index will be released.