The past week was again characterized by a continuing optimistic mood in the financial markets. Although stock indices have failed to rise as in previous weeks and to drive on Friday afternoon, they were only slightly higher than Monday, the fact that it continues to see high gains since mid-July.
In the USA alone, the S & P500 index has risen by 15% in the last month, to which both the surprisingly good results in the banking sector and the situation in the world’s largest economies have improved. This impression was also supported by data from previous days, which doubled the salary in the case of the euro area. Germany and France returned to growth in the second quarter, although their GDP grew by only 0.3%, a result far better than the original analysts, who expected a contraction of between two and three tenths of a percent.
The European currency reacted very positively to good at first, especially the European currency, which only this week managed to strengthen the dollar against the dollar by 0.9% and prices of 1.43 USD per euro.
The strongest moment of this week was the central US central bank (Fed). According to a long time ago, it again left rates unchanged at 0.25%, and what more, in its accompanying comments published on the decision, it stated that it intended to keep the rates low for a long time beyond three years. The Fed again refused to turn off the taps of its monetime expansion, which was exactly the first thing traders wanted to hear in the stock markets. Thanks to the policy of central banks, they continue to wake up, awakened by it, which will have to drink after central banks, again under the pressure of rising prices, raise rates again, but on the other hand it can be all the more painful.
The only increase in the past week was the results of retail sales in the United States. The neekan fell and revealed one unpleasant truth. In June, these cars were mainly due to car sales, while sales of other goods fell sharply. However, the American company is making the situation much easier for American carmakers, the price of which is paid to other companies, which did not have the opportunity to get to their subsidies.
The situation in the commodity market developed similarly to the stock markets. Oil only slightly increased (brent and back above 74 USD / barrel), to which two factors in particular contributed. The first was the weakening dollar, which helped raise its dollar price. The second is the growing speculation of traders that with the gradual recovery of the world’s largest economies, the demand for oil could increase. In recent months, it has started to increase dramatically, for example, on the part of ny, where only in June, thanks to massive fiscal stimulus, its imports increased by 18%.
So far, the most interesting data will be published, for example, the results of the business climate in Germany, the indices of activity in the manufacturing sector and the euro area services sector (PMI) and gave the result to the US housing market.