Dollar rises immediately yield retains close to 2.97%
Stocks nosedived today (Tuesday), with the Dow Jones industrial average sinking 600 points in session lows.
As expected, the ECB kept interest rates unchanged as well as the stimulus policy to the economy covering the monthly buy plan of 30,000 M.$ in assets up to September. At the press conference following the meeting, Mario Draghi confirmed that the European economy is undergoing a moderate expansion period, even though it remains consistent with a solid expansion stage. Regarding inflation, Draghi said the ECB's board of governors remains optimistic that inflation will converge towards the monetary authority's target (inflation next but below 2%).
European markets were up on the last day of the week. As in the US, the emphasize is for the tech sector.
European markets closed rising, preferred by the weakness of the Euro. The weakness of the European currency has directed it to exchange at 1.19 from the Dollar, a level not recorded because December 2017. To warrant the weakness of the frequent currency, there's the substantial difference between US and German returns and the recent downturn in the European market. In March, orders to industry decreased by 0.90 percent (on a monthly basis), compared to forecasts of 0.50 percent. In the first quarter, the German market has been negatively conditioned by factors such as bad weather and a series of strikes that indied that period. The mining and oil industries stood out. Crude oil prices gained greater than 1 percent as a consequence of retracement of the Dollar and the indiions that President Trump will have a tendency to impose sanctions again not only on Iran however on Venezuela.
Technical traders operate on various time scales, generating detectable signs in price time series, subsequently memory effects have been introduced at the price dynamics through a specific figure called supports and resistances. In reality prices more inclined re-bounce than cross these values.
In the pre-opening, the European markets exchanged with gains. On this very first day of June, and just a couple of days ahead of the UK elections, politics remains one of the subjects that most draws the eye of investors. In reality, the problem of European integration is really a topic that remains on the agenda, therefore the interventions of a few of the heads of the European Central Bank will be closely monitored. The European Commission presented yesterday a discussion paper on the deepening of economic and monetary union, which suggests that an agreement be achieved by 2019 over both remaining mechanisms to fill out the banking marriage: the single bank resolution fund and the finance European deposit promise. Additionally, the oil price trajectory has also been monitored at a period when, according to Reuters, concerns remain that production cuts agreed by OPEC are being hampered by the several countries that are excluded from the agreement. Yesterday, the price of this raw material reached a minimum of three months, after Libya improved generation. In sectoral terms, commodity manufacturers and the banking industry will continue to be the attention of shareholders.