weak handbags in view of the postponement of the squeeze on US interest rates – The Republic

MILAN – Weak Day in Western markets, the uncertainty that surrounds the operating rooms on the next moves of the central banks. The Old Continent Bags fold with the operation Use and the negative data on the US services sector. Milan , after a morning around the parity, it closed down 0.8%. In red the other: Paris lost 0.24%, London 0.78% and only Frankfurt held equal to + 0.14%. Wall Street closes positive after the holiday Monday with the Dow Jones rises 0.26%, the Nasdaq advancing to new record gaining 0.50% to 5275.91 points while the S & amp; P 500 scored a progress of 0.30%.

global markets therefore remain uncertain after that, last Friday, the US employment report showed the creation of fewer jobs than expected job. A figure that has dismissed the possibility of an immediate increase in interest rates by the Federal Reserve, at their meeting on 20-21 September. Today came new signs of weakness, with the ISM index on the services in more than expected decline to 51.4 in July from 55.5 points sector (the macro agenda). Now the odds – measured by future federal funds – an increase in borrowing costs in September fell to 15% from 30% at the start of the session, but the market did not react celebrating can supplement low cost money. Today the Australian central bank decided to leave interest rates unchanged, at historic lows after cutting in August, while on Thursday the ECB meets: markets expect an extension of Quantitative easing than in March 2017 but Draghi might wait until the December meeting for the announcement. While waiting for these explanations, after the increases of August, in the operating rooms exists caution.

‘ € closes sharp rise to $ 1.1249 after the publication of US data: the greenback also moves back to 102.79 yen. Continues to advance the pound, which is hoisted to $ 1.3430. Also from the macro front we note the growth lower than expected for Factory orders in Germany in July. According to data notified by the Ministry of the economy rose by 0.2% against 0.5% estimated by Bloomberg . A slowing down has been domestic demand while growing that towards the euro area. In terms of Eurozone slows GDP growth: after increasing 0.5% in the first quarter of 2016, in the second growth was 0.3% in the euro area and 0.4% in the EU-28. This was communicated by Eurostat, which for Italy confirms the zero growth already spread by ISTAT. On an annual basis the Eurozone GDP was up 1.6% and 1.8% of EU-28, slowing down again sull’1,7% and 1.9 % the previous quarter. In Italy the annual growth was confirmed at 0.8%. Annual inflation in the OECD area while slows in July at 0.8%, 0.1 points lower than in July. The spread between BTPs and German Bunds back to close just below 120 basis points, with Italian ten-making 1.13% in the secondary market.

the trend GDP in the second quarter than the first, country by country ( source: Eurostat )

the main focus of these days is the oil industry: the quotes crude I am negative in New York, when European markets are on track to closure. The WTI file index 0.5% to $ 44.2 per barrel, while Brent gives 2% to $ 46.7. To light the lighthouse (and purchases on the eve) black gold was the agreement between Russia and Saudi Arabia, announced on the sidelines of the G20 China in recent days: the two main producers have an agreement to “stabilize the market” although now missing concrete steps on production levels. The reflection was also seen on the Russian stock exchange, with the Micex index to update the maximum. Iran “supports all decisions of the producer countries which may serve to stabilize the oil market,” he said Meanwhile, the oil minister of the government in Tehran, Bijan Namdar Zangeneh, worldwide according to the official Iranian media. L ‘ Gold gained 1% to $ 1,340 an ounce.

‘ caution still prevailed on Japanese markets, even in the wake of the absence of indications from the US operators : the Tokyo Stock Exchange has finished trading slightly higher this morning. The Nikkei index rose slightly 0.26% to 17.081.98 share. On the currency markets, the yen remained stable over share 103,50 115,50 euro and the dollar.