Eurizon's positioning for July 2026 | The Globe

‘The Globe’, Eurizon's view. The reference scenario sees the continuation of the global economic cycle. Investment in technology remains a robust pillar of support for economic activity. The resurgence of tensions in the Middle East and questions over the sustainability of profits in the technology sector are causes for concern. In August, the thinning of trading volumes will expose the market to the risk of increased volatility. Discover Eurizon's positioning for August 2026 with Andrea Conti, Head of Macro Markets Analysis.Audio recorded on 27.7.2026. Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

The week was marked by greater caution in the markets due to tensions in the Middle East and the potential risks to energy flows through the Strait of Hormuz. Oil prices rose without reaching alarming levels, whilst the euro-dollar exchange rate remained stable. The major stock markets closed lower, with weaker performances in Europe and emerging markets, while profit-taking in the technology sector was the main factor in the United States. In the bond market, lower-than-expected US inflation resulted in a slight fall in yields, although geopolitical tensions continue to fuel inflationary concerns. Investors therefore remain focused on geopolitical developments and the next moves of the central banks. Let's take a closer look with Andrea Conti, Head of Macro Markets Analysis at Eurizon. Audio recorded on 20.07.2026.Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

It was a volatile week in the markets, influenced by renewed tensions in the Middle East and concerns linked to the Strait of Hormuz. Oil recorded a moderate rise, while the euro/dollar exchange rate remained largely stable, a sign that investors still perceive risk as manageable. European and Asian stock markets have shown greater weakness compared to US markets, supported by the resilience of the US economy and the start of the corporate earnings season. Bond yields also rose slightly, reflecting geopolitical uncertainty and inflationary risks.  In the next few days, market focus will primarily be on data relating to inflation and consumption in the United States. In-depth analysis with Stefano Cucchi from Eurizon’s Macro Research & Product Specialist team. Audio recorded on 13 July 2026.  Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

Positive week for financial markets, with both the S&P 500 in the US and major European stock exchanges posting gains. The fall in oil prices and expectations of less restrictive monetary policies have boosted investor confidence. In the United States, the economy continues to show solidity, with industrial activity expanding and the labour market remaining resilient. In Europe, June inflation slowed more than expected, while Germany has announced a new reform plan to support growth. Focus remains firmly on the next moves of central banks, inflation trends and the start of the corporate earnings season. In-depth analysis with Stefano Cucchi from Eurizon’s Macro Research & Product Specialist team. Audio recorded on 6 July 2026.   Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer  

‘The Globe’, Eurizon's view. The reference scenario sees the continuation of the global economic cycle. Investment in technology remains a robust pillar of support for economic activity. The fall in oil prices points to a likely further fall in inflation and provides further support for the economic cycle. Discover Eurizon's positioning for July 2026 with Andrea Conti, Head of Macro Markets Analysis.Audio recorded on 24.6.2026. Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/it-IT/analisi-mercatiBefore listening, please read the warnings outlined on the following page:  https://www.eurizoncapital.com/en/video/promo/disclaimer 

The markets have taken a positive turn tone thanks to the easing of tensions in the Middle East following the agreement between the US and Iran, wich contributed to a decline in oil prices. The US economy has confirmed its solidity, with retail sales exceeding expectations and consumer spending remaining robust. The Fed has left interest rates unchanged, whilst maintaining a cautious stance and signalling that any cuts could take more time. Over the next few days, attention will focus on data on business confidence, inflation and US consumer spending data. In-depth analysis with Stefano Cucchi from Eurizon’s Macro Research & Product Specialist team.Audio recorded on 22 June 2026.   Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

A positive start to the week for financial markets, driven by the nearing of an agreement between the USA and Iran. This has now been confirmed by both parties, though not yet formalised. Equity markets are up, while government bond yields have edged slightly lower, maintaining a cautious approach. The formal signature of the agreement remains a key focus for markets in the coming weeks. Meanwhile, it remains crucial for investors and central banks to assess the impact of the oil shock on inflation and growth. Attention is already shifting to the details of the deal and the resumption of traffic through the Strait of Hormuz, both of which are key elements for the future stability of the region. Let's take a closer look with Andrea Conti, Head of Macro Markets Analysis at Eurizon. Audio recorded on 15 June 2026. Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

Over the past week, financial markets have shown weakness due to tensions between Israel and Iran and strong US labour data. The resilience of the US economy has heightened fears of a Fed that remains inflexible on interest rates, triggering profit-taking, particularly in the US technology sector. European indices limited their losses thanks to lower exposure to tech stocks, while emerging markets ended the week lower. On the bond front, yields have risen in both the United States and Europe. Oil is also up, returning toward $95 per barrel, along with the dollar against the euro. In the coming days, attention will be focused on the ECB meeting, where a 25-basis-point rate hike is expected. US inflation data will also be very important. In-depth analysis with Stefano Cucchi from Eurizon’s Macro Research & Product Specialist team.Audio recorded on 8 June 2026.Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insightsBefore listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

‘The Globe’, Eurizon's view. The scenario assumes the continuation of the global economic cycle, supported by investments in technology. In the event of a US-Iran agreement, there is room for a decline in oil prices; however, central banks remain vigilant to contain any second-round effects on inflation. Discover Eurizon's positioning for June 2026 with Andrea Conti, Head of Macro Markets Analysis. Audio recorded on 28.5.2016. Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights:https://www.eurizoncapital.com/it-IT/analisi-mercatiBefore listening, please read the warnings outlined on the following page:https://www.eurizoncapital.com/en/video/promo/disclaimer

The week was positive for the markets, thanks to the absence of new tensions in the Middle East and progress in negotiations, which seem to be moving closer to an agreement. The drop in oil prices, back to around 90 dollars, has supported both equity markets and government rates, with a marginal decline in yields. The dollar has weakened against the euro, reflecting a context of reduced risk aversion. In the United States, the economy remains stable, while in Europe, emerging signs of deterioration are linked to high energy costs. The focus remains on the impact of the Iranian crisis on inflation and future monetary policies. Let's take a closer look with Andrea Conti, Head of Macro Markets Analysis at Eurizon. Audio recorded on 25.05.2026.Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer