Overview of market trends
European stock exchanges registered a lower session, while Wall Street remained stable after the publication of data on American inflation. In particular, Piazza Affari showed some resilience, with the Ftse Mib closing 0.3% higher at 33,707 points. This positive trend was supported by some brilliant performances of specific securities, such as MPS and Bper, which gained 1.85% and 2% respectively thanks to favorable opinions from HSBC and Morningstar
.
Analysis of inflation data
In October, consumer prices in the United States accelerated, reaching 2.6% year-on-year, with a core figure stable at 3.3%. These results have led traders to revise their interest rate expectations, slightly increasing their bets on a possible cut of 25 basis points in December and on further interventions in the first part of 2025. The market reaction has been cautious, with investors waiting for further guidance from the Federal Reserve
.
Situation of the bond and commodity markets
In the bond market, the Btp-Bund spread stood at 125 basis points, with the Italian 10-year yield set at 3.63% and that of the German benchmark at 2.38%. Commodities showed interesting movements, with Brent oil fluctuating around 72 dollars per barrel and gold remaining just above 2,600 dollars an ounce. These data reflect a certain volatility that characterizes the commodity market, influenced by global dynamics and economic expectations
.
Forex and cryptocurrency trends
In the currency market, the U.S. dollar continues to strengthen against other currencies. The euro/dollar exchange rate fell below the 1.06 mark, while the dollar/yen crossed 155 for the first time since July. This strengthening of the dollar is a sign of investor confidence in the economic stability of the United States. Meanwhile, Bitcoin has reached new all-time highs, reaching 93,000 dollars, highlighting the growing interest in cryptocurrencies in a context
of economic uncertainty.