Eve Brexit, cautious markets. Sterling believes in the EU – The Republic

MILAN – 10:45. The eve of the referendum on the Brexit for the financial markets and – net of words that Fed Chairman, Janet Yellen, pay attention to the financial services committee – the attention can only focus to Great Britain, look for clues on the outcome of the last consultation. Politicians shoot the latest cartridges to support one or the other hand, while the polls conducted by phone or web are absolutely uncertain. Investors, particularly since the murder of Labour MP Jo Cox, have returned to believe that the status quo will prevail and permanence Union, awarding the shares and the pound. The British currency is in fact the highest against the dollar (in the 1.47 area) since last January, driven by the fact that the index created by Oddschecker – which outlines the possibility of victory of “leave”, the output from the Union, according to bookmakers’ odds – it marked a sharp decline of Brexit to 26%, from 43% a week ago.

The chances of victory Brexit based on the portion defined by bookmakers

in any case, the fear of the possible repercussions on the markets are high and if Mario Draghi said that ” ECB is ready to do anything “, in the US financial authorities have come together to develop a contingency plan. The European markets treat contrastat: Milan , playing on the rise, runs a 0.8% decline. Paris and Fancoforte are more convinced than + 0.2% and + 0.4%, while London is unchanged.

In the morning , the Asian markets as a whole have held hardly a day of gains. Closing down for the Tokyo Stock Exchange . The Nikkei index at the end of trading, recorded a 0.64% loss at 16,065 altitude. In positive territory, however, is Shanghai and Hong Kong , both of about 0.7%.

The day will include three important macro data: the index of house prices and sales of existing homes in the United States and the confidence of consumers in the Eurozone. Today European banks to the ECB may submit requests for access to the first of the new auctions Tltro2 , the zero rate (or even negative cash): expects a net withdrawal of 50 billion euro. The number one of the Fed, Janet Yellen , refers to the Financial Services Committee on the US economy’s health. Yesterday, in the first of two days of parliamentary hearings on the economy and monetary policy, Yellen defended an accommodative stance in support of growth, it is still defined “appropriate” before the uncertainty experienced by the recovery and the risk of an exit of Britain from ‘EU (the agenda of the markets).

spread between Bund and BTP is a slight narrowing of below 140 basis points, with the Italian-year bond that makes the 1, 45% in the secondary market. L ‘ € is rising against the dollar, but down against the yen this morning on the day of launch. The single currency is trading at $ 1.1275 and 117.7 yen.

in minimal upward closure, last night, for the Stock Exchange Wall Street where the Dow Jones finished trade at 17,829 points (+ 0.14%) and the Nasdaq at 4,843 points (+ 0.14%). To support the prices we thought the oil trend, with the Nymex WTI which has brought over $ 50 a barrel. Brent is at $ 51 instead. Slight decline for the ‘ Gold , which fell back below $ 1,270 an ounce.

topics:

European shares

Asian stocks

Wall Street

gold

oil

EUR

dollar

brexit

bce

Fed

Starring:

Janet Yellen