Tden on the market: pig lace affected stocks, US GDP disappointed

The first day of the week was marked by the beginning of a lace pig. It is logical that the people will postpone tourist excursions in the future, and so the demand for air transport and hotels will decrease. The shares of airlines and hotel companies therefore suffered the most.

The entry of the world’s largest economies lagged behind

On April, the GfK consumer climate index for Germany was published in April. He did not change his value compared to the ordinary, and in fact he fulfilled the real analyst. He gave the first question that Poland will be forced to postpone the adoption of the euro and for 2012.

The second day of the week provided a preliminary estimate of Germany’s April CPI, which stagnated in the meantime, which is fully in line with the general trend in developed countries. The result of the British April CBI index of realized retail and wholesale needs was very desirable, which increased by an incredible 47 points compared to the previous month.

After very bad results in GDP, this has certainly caused British economists to sweat. In the afternoon, the markets were very excited by a kind of strong positive at first, this time in a global nature, because it was the results from the USA. The April consumer door index had a value of more than 12 points you did not run.

The most anticipated macro release of the week, but even more so, the United States’ GDP growth estimate for the first quarter of this year was preliminarily annualized. After a result of -6.3%, the value of -6.1% was essentially in a hurry, but the professional public expected the result to be better, as well as the negative reaction of the market did not wait long.

So the US economy is stagnating, but not as fast as before. A decline in GDP could be expected for the second quarter, but again. Without interest, there was not even a meeting of the American Central Bank’s Open Market Operations Committee, which decided on years of rates. However, keeping rates at the current level was certain, so investors focused mainly on the accompanying comments.

On Thursday, the publishers published data on the euro area CPI for April, which increased by 0.3% compared to the average. The third month in the general price level is rising, which probably the central bank will greet with credit, because for them it is the worst magnitude of deflation. The current unemployment rate for the euro area was a pleasant surprise, rising by two tenths of a percentage point up to 8.9%. In the afternoon, there were data from the USA, a lot enough about unemployment benefits, personal consumption and the PMI for Chicago, but they were known and after writing this article.

At first, stocks fell to pick up growth later

Unlike the actions of airlines and hotel companies, the shares of pharmaceutical companies benefited. The negative mood in the market was altered by General Motors’ statement about disputed measures such as dismissed employees. Overall, the Dow Jones Industrial Average index fell slightly, the Western European indices ended up just below zero, and the Esk PX then wrote off more than 1%.

In the ter was published information about where the new pig lace was identified, which did not add to the market again. The sources close to the Fed thus leaked information that the banks Citi and Bank of America will not pass stress tests, which, in addition to the decline in the actions of these companies, also under other financial titles, even in Europe. Nap. Deustche Bank shares gave up their values, although the bank published very good results for the first quarter of this year. While the losses of US indices and the Prague PX were modest, Western European indices lost an average of almost 2% of their value.

In the midst of the release of US GDP in the first quarter, most would have guessed that stocks would go steeply, but there were a few facts that prevented it. Although GDP was low, its structure has some hope. Investments have suffered greatly, but household consumption has even increased quarter on quarter. In addition, many items have been sold, and in the second quarter it will probably be produced a lot, so the result is expected to be much better than now.

Veern’s statement of the Fed’s state of the economy was thus relatively optimistic. In Europe, goodwill was again helped by the positive results of Siemens, which even increased its profits. Overall, banking stocks were sent the most from the trading session. The DJIA index ended 2.1% higher, the Western European stock market added on average by more than 2% and the Czech PX index gained 3.6%.

On the last day before the national holiday, European stock exchanges were inspired by Central American trading and recorded strong gains. The PX index hit by banks and before the second hour it was more than 3% up. Western European stock markets have grown at the same time by about 2%. The American trading session began and after writing this article.

The dollar could not withstand the pressure

The first week of the week on the euro strip with the dollar developed more positively for the US currency. This tila from the reputation of a safe pesto. At first, the pig’s lace increased his risk aversion. The official factor was also the statement of the ECB representative that they are ready to pursue a policy of quantitative easing, which would mean inflating money in the euro area, increased the supply of euros in the currency market, and thus weakened the common European currency.

In the second half of the week, the dollar gave up its profits last night and even weakened to go beyond this level, when the euro was helped mainly by rising stocks. On Thursday at 14:30, the dollar traded at around 1.33 EUR / USD.

During the week, we moved in a very small dog in a good trend around 26.5 EUR / CZK, where it ended its journey around the plaza on Thursday. The reason for the peaceful development was the lack of substantial houses at first. The Czech koruna sold at a rate of around USD 20 / CZK on Thursday at 2:30 pm, for which the dollar could generally weaken in the second quarter of the week, which was also reflected in me.

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