Friday, the markets closed with sharp declines and closures near intraday minimum. As for the sharp declines in U.S. indexes on Friday confirmed the downward trend in action: still fails to include the violation of the minimum to complete the previous trend. Europe, the Eurostox 50 closes the week with a massive drop, but for now the index maintains a technical configuration better than the American. The retracement on Friday, the index u and it follows a series of consecutive increases, which occurred in the first half of July: it could be a healthy break and a retracement before returning to New hikes, but also to be confirmed this week.
The very weak closing on Friday of U.S. indexes was generated by disappointment for the second quarter of fiscal data reported by some large companies like General Electric, which was below analysts' expectations. The results of the second quarter of U.S. banks (JPM Morgan, Bank of America, Citigroup), but failed to impress the positive mercato.Oltre the quarterly U.S. macroeconomic data also show a weakening of the week the U.S. economic picture. The minutes of the Fed of 22 and 23 June indicate a slight reduction of growth estimates and a slight increase in those relating to unemployment. The Fed in fact expected that the current growth trend in the void of activity caused by the crisis will not be filled before 4 -5 years. And 'the foreign trade and manufacturing that contribute to shaping the consensus on U.S. growth in the second quarter. Finally, the disappointing performance of the labor market is the basis of the deterioration of consumer confidence in July, expressed by the developed dall'Univeristà of Michigan.
With regard to international indexes have turned in more strikingly weaker indices like the FTSE and Mib Ibex, while the Dax and Nordic confirm their strength.
As for the sectors in Europe last week to retrieve the Axis and energy and give way to the Banking and Insurance and Basic Resources. Among currencies, the euro continued to rebound during untying of fact by the positive correlation with the market declines. The European currency gained positions on the dollar and sterling. Even the lateral trend of oil, while gold is going through a soft patch in the near future. Bund remains rather short lateral approach, while it remains bullish for the medium and long See chart.
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