Milan – The ECB has established the cutting of deposit rates to 0.3%, ten basis points less than the previous level, and Governor Mario Draghi has announced an expansion of the Quantitative easing until March 2017. But the markets were expecting all these moves, in fact hoping for something more: for once, were not surprised by the president of the Eurotower and thus weakened. After serving in recent sessions the measures, investors would need something more to celebrate, but Draghi believes that – for the moment – has been done everything necessary.
During the meeting, the European stock accelerated downward after the formalization of the position of the ECB: Milan closed down 2.47%, London 2.27%, Frankfurt and Paris both 3.58%. The spread squirts in area 100 points with BTP arriving to make 1.6% after 1.38% in the morning: investors trusted in a major cut in deposit rates in the hope that more titles would be able to enter the basket of purchases by the ECB, which however did not happen. It reinforces the ‘ € , indicating that markets were expecting more from Draghi: the single currency, which traded below $ 1.06 in the morning, back in the closing area to 1,085. Closing in negative Wall Street. The Dow Jones leaves 1.40% to 17,481.21 points, the Nasdaq 1.67% to 5037.53 points; drop of 1.4 for the S & amp; P 500.
Federal Reserve has been the target of investors last night the governor, Janet Yellen, has hinted it rise again Use rates in the next meeting of 15 and 16 December. An opinion reiterated today before the US Congress: according Yellen wait too long to begin making close could result in different risk destabilizing financial markets. The ADP data yesterday, that in November they were created more jobs than expected in the private sector, has been a good premise for the last month’s employment report coming tomorrow. Disappointing, today, the findings on applications for unemployment benefits: increased by 9 thousand units in the week to 28 November reaching 269mila, while expectations were for a reading to 265 thousand from 260 thousand last week.
On the macroeconomic front, in France The unemployment rate rose to 10.2% in the second quarter, the top for 18 years. Indications coming from Markit with SME services : In Italy, the figure is stable in November to 53.4 points, to 55.6 confirms for Germany but overall Eurozone slows to 54, 2 points. In China, the PMI services declined after the unexpected sharp rise in October. According to the survey among purchasing managers in the services sector created by Caixin, the index was down to 51.2 in November from 52 in October, which was the best result for three months. The same index also slowed to 51.6 from 52.2 in Japan: the slowdown is noted for both activities for new orders of service industry Nipponese. As for retail sales , finally, signs of a slowdown from the Eurozone with a decline of 0.1% in October over the previous month. In the USA, orders to industry in October showed a monthly increase of 1.5% more than expected.
Tokyo Stock Exchange closed flat, pending the meeting of the ECB: the Nikkei index advancing 0.01% to 19,939.90 points.
After sales of the vigil, oil rebounds on Asian markets above the 40 dollars the barrel WTI contract on January delivery recorded a price the $ 40.14 in trade on the Asian market. The Brent barrel is pointed at $ 42.72, up 23 cents. Tomorrow there will be a summit with the OPEC cartel of producing countries divided on whether to cut production quotas. Gold is at its lowest since 2010: the precious metal is trading at $ 1046.44 an ounce with a reduction of 0.7%.
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