The expiration of options and futures on both sides of the Atlantic, known as 'quadruple witch hour', will mark the end of a week that has been quiet and in which the most notable was the sharp rise on Tuesday, with the excuse of the latest actions of the Federal Reserve (Fed), as well as the nerves and caution that have persisted in the fear that the outbreaks of Covid-19 cases (especially in the US and China) will increase. The Bank of England has been the focus of attention. Finally, this Thursday it raised its stimuli to a total of 745,000 million pounds. All in all, the expiration of futures could increase volatility in the indices today. At the moment, the Ibex rises 0.8%, to 7,451 points.
- 11.070,900
- -0,75%
This Friday will be a meager day in terms of appointments on the agenda, in which the speeches of several members of the Fed, including the president, Jerome Powell, stand out. However, after his appearances these days in the Senate and the US Congress, he is not expected to have many news to announce. In addition, there is a meeting of the European Council to discuss the aid program of 750,000 million euros. No deal is expected today.
Across the Atlantic, Democrats in the House of Representatives unveiled a $ 1.5 trillion infrastructure plan last night. The Speaker of the House of Representatives, Nancy Pelosi, presented the bill called 'Moving Forward Act' at a press conference, explaining that it would build the infrastructure "in a green and resilient way." Experts point out that this issue of the infrastructure plan in the US, which would revive the economy and for which Donald Trump has been advocating for years, will continue to be in the short term.
For the rest, the employment data released on Thursday in the US continues to show weakness, but there are some small positive aspects, says David Madden, an expert at CMC Markets in London. Still, he adds, "It is concerning that only a small percentage of people have returned to the job market."
As for oil, it rose last night and continues to rise this Friday (Brent barrel: $ 41.90; WT barrel: $ 39.20). The OPEC's technical committee did not make any additional recommendations last day to implement more production cuts, focusing on members who have not adhered to the current agreement and are not complying with its offer reduction, noting that any nation that does not comply will have to make up for it between now and September.
Finally, regarding the technical aspect of the Ibex, Bolsamanía experts recall that it has its first resistance level at 7,663 points. In the accumulated index of the week it rises around 1.5%.
