Markets improve on the words of the Dragons. The Usa data above expectations – The Republic

the MILAN - Janet Yellen has strengthened yesterday on the conviction that the path of a rise in us rates, because of the strong economy and rising prices, will be incurred during 2017. After his words, the market “has increased the expectations for a rate hike in march,” underlines Mitsushige Akino at the agency to Bloomberg. A dynamic back-to-back strengthen the dollar and weaken the yen, after days of uncertainty, also related to the fears of Brexit and the unknown Trump – that have rewarded in the operating rooms of the refuge assets. And another central banker is back under the spotlight: Mario Draghi has brought together for the first time this year, the e xecutive board of the Ecb, which left rates unchanged and the Qe. But with inflation the recovery in the single currency area and in particular with the first alarm bells on the prices in Germany. A situation that puts pressure on the governor and his colleagues, from which some are starting to expect as directions on how to dismantle (without shock to the markets), the special program of stimuli.

The Bags in european cash in the reassuring words of the governor on the need to maintain an accommodative monetary policy, even if the tuning remains uncertain: Milan closes increase of 0,69%, and Ubi is still positive after the ok of the bank of Italy for the acquisition of three of the four banks cleaned up. A slight improvement on other european stock Exchanges, where it prevails, however, the minus sign: Frankfurt closes flat (down 0.02%), Paris lima 0.25% and London remains in negative -0,54%. the Wall Street is a little move on the eve of the swearing in of Donald Trump to the presidency: when to end the trade in the Old continent, the Dow Jones declined by 0.15% and the Nasdaq rises 0.15%. “Today was a press conference without any surprises,” explains Gabriele Minotti-area markets, and then went on to the conference of Dragons. “The only poin t of interest inside a message from the tone of the overall, cautious, came from the questions on the recent increase of the German inflation touched 1.7% in strong divergence with the rate of inflation at the european average of 1.1%. Draghi reiterated that the objective of the Ecb is based on the rate of inflation in the euro area as a whole and not only of one country”. In essence, “the message to the germans is clear: although there are some positive signals from the economy time to lift the foot from the accelerator, is still very far away”.

The graph Bloomberg shows that prices in the Eurozone are at a level of growth not seen since 2013

The foreign exchange market reacts with a certain coolness to the Dragons: l’euro: closes slightly down to 1,0631 dollars, but jumps to 122,44 yen. The yen decreased against the dollar to share 115,17. The spreads between the Btp ten-year and the corresponding German Bund is stable in the area (160 points). The yield on Italian government bonds is to 1,99%. In November, the current surplus of the balance of payments of the Eu has in the meantime increased to 15.8 billion, compared with a surplus of 15 billion in October and € 10.1 billion in November 2015. In the third quarter of 2016, home prices in the euro area increased by 3.4% and in the Eu by 4.3% compared to the third quarter of 2015. Drop In the Italian (by 0.9%). From the Usa we note the decline than expectations of requests for unemployment benefits, that they stop to share 234mila. The above estimates of the new construction sites in December (+11.3 percent) and the manufacturin g index of the federal reserve of Philadelphia to 23.6 points.

The decline of the yen has strengthened this morning, the Tokyo Stock exchange, which has closed the trade on the rise: the Nikkei index of 225 titles guide, earning the 0,92% so 19.068,00 points. Shares of Toshiba ended down 16% at 242,3 yen (but in during glide up to -26,5%) following rumors about the larger losses of the expectations related to the write-down of nuclear activities in the Usa. The closures on the decline for the chinese Exchanges: Shanghai has ended the trade down 0.38%, Shenzhen -0,37%.

The oil in New York, which stood on the rise above 52 dollars a barrel before the inventory weekly of the american, reduces the gains: stocks surge 2,347 million unit 485,456 million, while analysts were waiting for a rise of 100,000 barrels. After the recent run, the’gold lives the second day of break and the price of bullion is falling on asian markets: the metal with immediate delivery drops by 0.6% to 1197 per ounce.