KBC Market Research Desk
KBC Bank
European shares failed to maintain their opening gains to trade lower for a third consecutive session. US Equities trade broadly unchanged ahead of the long weekend in the US.
Ukraine said today it would seek the protection of NATO membership after what they called an open participation of Russian military in the war in Ukraine’s eastern provinces. NATO members are holding an emergency meeting after the worsening Ukrainian crisis.
The Russian ruble hit a new low against the US dollar today as the conflict in Ukraine intensified with alleged participation of Russian troops and as US and EU leaders are discussing further sanctions against Moscow.
The Swiss franc is trading at its strongest level in 20 months against the euro on increasing expectations of a QE programme by the ECB and due to safe haven flows on the back of heightened tensions in Ukraine.
Brazil’s economy suffered a recession in the first half of the year, government data showed today. The economy contracted by 0.6% Q/Q in Q2 and first quarter data were revised downward from 0.2%Q/Q to ‐0.2% Q/Q.
EU Leaders will meet during the weekend on high‐level EU appointments. On Monday, US markets are closed in observance of Labour Day.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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