- The euro rises above $ 1.197
The Ibex 35 has closed with falls of 0.57%, until 10,285.9 points, the lowest since last August 11. European stock markets have started this week with declines nearing half a percentage point after the Jackson Hole symposium, which grabbed attention in recent weeks. Central bankers left no clue as to the future of monetary policy, but after the speeches of Janet Yellen (Federal Reserve System) and Mario Draghi (European Central Bank), the euro climbed above 1.19 dollars, which dragged the red numbers to the main indexes of the European stock exchanges.
- 11.154,600
- 1,56%
Although they did not mention the upcoming rate hikes and the downsizing in Yellen's case, or the future withdrawal of the asset purchase program in the case of Draghi, they did leave a clear message for Donald Trump: it would not be positive Reverse reforms on regulation and supervision of the financial system or develop protectionist measures.
In the midst of speeches by the Fed and ECB presidents, the European currency soared to a new annual high of two and a half years against the dollar. In the typical summer atonia, with a lower volume of trading, the crossing between these two currencies has been the only reason for breaking the tranquility for the main exchanges.
On Monday, the euro trades with a 0.4% revaluation, after starting the day with rises, at $ 1,197. The currency has extended its recent advance to a new high of more than two and a half years, since December 30, 2014.
Between the values that have fallen more in the session of Monday, ACS with a decrease of 1.75%, Grifols has left 1.57% and Viscofan has decreased 1.36%. Between the figures that have risen are only four: Siemens Gamesa and Colonial with a gain of 0.36%, Mediaset Spain with a revaluation of 0.24% and Cellnex in 0.11%. Among heavyweights, Inditex has left 1.21%, the fourth highest figure left, Telefónica has fallen 0.88%, Santander 0.44%, Iberdrola 0.43% and BBVA 0,38%.
Meanwhile, in the commodities market the oil moves with setbacks. Brent fell 1.3 percent to $ 51.75 and West Texas lost 2.6 percent to $ 46.6 due to Hurricane Harvey, which has caused five fatalities and forced To close US oil refineries.
In the debt market, the 10-year Spanish bond falls with a yield of 1.6%. While on the Asian stock exchanges, 1% profit night for the Chinese Shanghai Composite and 0.4% for Hong Kong's Hang Seng, setting a record two years. The Japanese Nikkei has finished flat and the ASX and Korean Kospi with losses of about half a percentage point. The Wall Street trades at the close of the European stock exchanges, with a mixed sign. London's FTSE 100 has not opened on Monday.
Among the macro references of the day, the most important has been the monetary mass of the Eurozone rose 4.5% year-on-year in July compared to the 4.9% expected by the market and 5.05% previously. Private loans from the Eurozone rose by 2.6% year-on-year, compared to 2.7% expected by the market and 2.6% previously. The Dallas Fed manufacturing index will be published in the United States and there will be three- and six-month, three- and five-year Treasury bond issues.
José María Rodríguez, technical analyst at Bolsamanía, points out that "in the last sessions the Ibex 35 is moving in a narrower range of prices than usual and with a trading volume of the lowest of the year. Daily chart attached, at the end the rebounds remain in that, simple rebounds in a side-bearish movement that has been displacing prices for four months.As the area of immediate resistance we have 10,444 points and as support 10,250 And the base of the channel, now at 10,180 points. "
"The index consuming more time than depth in the hope that at some point we will have a catalyst that will cause prices to be able to leave behind the bearish movement of the last months. Meanwhile more of the same: continuous ups and downs but in the end always With a clear direction, down," comments Rodríguez.