Monetary policy remains restrictive, while signs of moderating growth are becoming more evident in the global landscape.

This week reflected a relevant combination: inflation remains elevated, growth is slowing, and markets continue to be supported by structural drivers such as artificial intelligence and technology investment. At the same time, oil returned to the center of attention, reinforcing its role as a key driver of inflation expectations.

Labor market data continues to point to resilience, while Europe faces a more challenging environment, with weaker growth and persistent inflationary pressures.

In a landscape shaped by the interaction of monetary policy, energy dynamics, and technological transformation, market interpretation increasingly requires selectivity and a long-term perspective.

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