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Market Overview
The Fed and Eurogroup Support Latest Gains
On Thursday the markets were marked by a set of news that influenced the day. The news concerned the bad labor market which came from the United States, as well as the Eurogroup and OPEC + meetings, which brought about mixed feelings to the market. In the end, another program of purchase of assets and bonds by the North American Fed prevailed. On Friday the stock markets were closed in Europe and the United Sates and there was not much volatility in the markets.
It is important to note, however, that crude oil has been pointing downwards since then as the market was incorporating a cut of around 20 barrels per day where an agreement was eventually reached stating that about 10 million Dollars would be cut.
Equity markets ended up closing in the green while there was an increase in debt yields. Yet, an aversion to risk has been the main dominant sentiment throughout the day today where the Asian stock markets fell as a consequence.
Also, in the foreign exchange market, the Dollar is falling and the Pound continues its upward trend.
The price of crude oil had a very volatile behavior, where expectations regarding the cut in production ended up being defrauded.
The "yellow metal" has been appreciating, being marked by the appetite for risk and loss of value of the Dollar.
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