European shares bounce at this time following the harsh fall last week, which touched 7% in some cases, as in the Ibex 35.
US stock futures also resurface hard at the moment, after Wall Street Friday accelerate its losses after the European close, and leave between 1.5% and 2%, with a clear decrease it has definitely cleaned overbought in the US indices, and has also broken the enormous resistance from Wall Street to fall (after being left 3.5% weekly).
Indeed, what we have right now is a recovery of the two vectors that are driving the direction of markets in recent days, in a very negative sense: oil gets about 2% contribution from the opening, and the Stock Athens also rises right now.
Following these two disparate factors is advisable at this time, since the correlation that are showing major stock selective with them is very high, and change in the sign or magnitude of their contributions can act as a leading factor to trawl global markets.
About the oil, it is noteworthy that the financial economy obviates the very positive connotations that drop in the price of oil has on the real economy. But reading is done at the moment is that if oil falls, this means on one hand that oil demand in the world is declining by some economic slowdown, producing countries can have economic problems (like Russia) and that stock market related oil companies have underperformed in the future.
Asia , have had clear Nikkei falling 1.6%, despite confirming the Abe comfortable victory (the candidate who liked to market) in the early elections for weeks. In China, by contrast, we have had increases of 0.5%. The study center China’s central bank has cut its growth forecast for 2015 to 7.1%, which continues to fuel the expectation of any new economic stimulus measures.
In Europe, we will not disclosed no relevant macro data in the day.
In US know this afternoon several references intermediate importance . At 14:30, we have the US Empire State Manufacturing Index December; at 15:00, net long-term TIC Flows US at 15:15, industrial production and production capacity utilization level in October, at 16:00, the NAHB housing market index USA.
Tomorrow will begin meeting two-day FOMC Fed , whose conclusions will be announced on Wednesday from 20:00. This will probably be the most important event of the week in terms of schedule is concerned, so it could be discussed in the press about the nuances of ideas on the first rate hike.
exchange , we have the EUR / USD at 1.2425. The Euro had a strange bounce last week, which is easily reversible.
materials , in addition to the aforementioned recovery in crude, have fallen in metals .
In short, the week begins with an attempt to rebound, which depend heavily on developments in the coming days of political uncertainty in Greece after the maneuver of the Prime Minister to convene presidential elections and of oil prices, given the refusal of the bags to falls in it. If both factors remain more or less calm, huge drops last week could favor a rebound in the present.
SITUATION IN EUROPE
European Indices positive sign:
- IBEX: + 0.76%
- DAX: + 0.45%
- CAC: + 0.65%
- FTSE: + 0.73%
- PSI: +0.85%
- MIB: +0.26%
- EUROSTOXX: + 0.55%
- EUR / USD: 0.32% (1.2427)
- Gold: -0.96% ($ 1,210)
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