MILAN – 12:45 pm. Oil resumes its race to the bottom in the week leading investors to shift attention from the European Central Bank to the American. After the start of the Quantitative easing , the program for the purchase of securities by the ECB, which has further reduced spreads, the focus shifts away from the Old Continent. Black gold is back to fall precipitously: After filing the 9.6% last week, has updated the minimum from the spring of 2009 pushing the WTI below the $ 44 per barrel. To affect oil prices is the increase in US stocks: not enough the closure of many wells in the States to cool the over-production.
The other key element for the markets is the meeting tomorrow and Wednesday Federal Reserve , which should espuntare final communique from the reference to “patience” in raising rates (agenda of the markets). Investors expect however caution and Janet Yellen able to accompany the markets on the road to normalization of monetary policy, with rising interest rates that could start from June or September. One thing is certain: the watchword on Wall Street is volatility , that seen in recent weeks and is expected over the next few months. The strengthening of the dollar, which is a corollary to the change in the monetary policy of the Fed and the divergence from that of the ECB, will also contribute to lower commodity prices and oil prices.
In this context, EU lists reinforce after the good start: Milan marks a progress of 0.8%. New historical records for Dax Frankfurt , which adds 1.2% and exceeds the threshold of 12 thousand points. Well even Paris (+ 0.8%) and London (+ 0.5%). Eni pays suffered the decline of oil, which is in addition to the presentation of a strategic plan strongly conservative and cutting the dividend. To monitor Safilo, who presented the new plan and expects revenues of between 1.6 and 1.7 billion in 2020. But it continued the run of Fca: the car home nearly 16 euro on the stock. Well tuned also Atlantia, in tow of the Jubilee that will bring visitors to Fiumicino and on motorways.
‘ € has resumed its decline: the European currency lost ground against with a change in the dollar area 1,054, after touching a new low for 12 years on the Asian markets to $ 1.0457. The spread between BTP and German Bund starts the week stable below 90 basis points (86 points), under the differential between Bonos and titles of Germany. The return on ten-year Italian secondary market is 1.13%. The Greek question remains urgent: Athens paid a tranche of 584 million repayment to the IMF, but the situation remains tense with Berlin also because of a diplomatic incident by the Finance Minister, Yanis Varoufakis .
The agenda macro American today presents the main data, with the Empire State index on manufacturing and industrial production in February, in addition to the confidence in the construction industry. In Europe, they expect the words of Mario Draghi (in Italian evening) on the future of the financial sector. Meanwhile, the Germany records the full employment in the manufacturing sector: in January are 5.3 million workers of companies with more than 50 employees, an increase of 61 thousand employees of + 1.2% compared to 2014.
In the morning, the Tokyo Stock Exchange has finished unchanged exchanges (-0.04%), in a session marked by caution with the start of the board the Bank of Japan (BoJ) will announce tomorrow that its decisions on monetary policy. The Nikkei index has only dropped 8.19 points, to 19246.06, its highest level in 15 years, by filing the intraday gains achieved on expectations of substantial wage increases by companies in order to support consumption and economic recovery . The yen weak claimed the titles of exporting companies. Closures strong upside to the stock Chinese: Shanghai + 2.26% and Shenzhen + 2.6%. A tow purchases were the assurances of Prime Minister Li, according to which the policy is ready to intervene if economic growth this year is not sufficiently close to the target of about 7%.
As mentioned quotations of oil are falling: the boom announced US stocks precipitates quotations Greggo lows from March 2009. The contracts on WTI expiring in April give in area $ 44.3 a barrel on the New York market after hour; Brent drops to $ 53.3. On Friday there had been a heavy thud of crude oil: the International Energy Agency has released estimates negative for the sector. Courses of ‘ Gold rising in the opening week of the Asian markets with the price of bullion for immediate delivery rising to $ 1,162 an ounce showing an increase of 0.32%.
In the week the Fed finally expects the resurgence of Wall Street , who on Friday filed the third week in a row down, with the Dow Jones and S & amp; P500 respectively in red 0.6 % and 0.9%. A weigh, the collapse of crude oil, the strengthening of the dollar and can advance towards a rate hike by the Fed. For the two indices, the budget year to date is back in the red. The list technological Nasdaq in 5 days showed a -1.1%.
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