- Important macro references will also be published, such as the German ZEW and IFO
European markets start the week with declines (-0.3%) as investors remain ahead of Donald Trump, his ambitious economic agenda and tensions with North Korea. The latest resignation across the Atlantic - that of Steve Bannon, Trump's controversial ideological adviser - has failed to calm the spirits and doubts surrounding the US president persist.
- 10.543,200
- -1,29%
The departure of Trump's former chief of strategy was followed by the resignation of his special adviser, billionaire investor Carl Icahn. Icahn has allegedly left the administration because of a critical article detailing his alleged conflicts of interest and questions whether he has acted illegally. Meanwhile, investors are also wary of any increase in geopolitical tensions between the United States and North Korea. This, as US troops and South Korean forces carried out a joint military exercise on Monday.
As for the Ibex, and from a technical point of view, the index continues side-bearer despite having canceled the bullish gap left on April 24 at 10,377 points. Even so, on Friday closed again at that level (10,385 points) and it seems that the Spanish selective has little desire to give more scares ... or at least sudden shocks.
"Since the Ibex 35 marked annual highs at 11,185 points (in mid-May) we have consolidated levels within a lateral-bearish movement," says Bolsamanía expert, José María Rodríguez. Rodríguez recalls that they are already fifteen consecutive weeks of consolidation or, more colloquially, fifteen weeks in which the Spanish index has been "dizzy the partridge." One of the most important events this week will be the symposium organized by the Kansas Federal Reserve in Jackson Hole, Wyoming, which begins on Thursday and ends on Saturday.
