Weekly Summary from 16 to 20 March 2009
| Date: March 22, 2009 | Source: Economic @ 21 |
| Category: WEEKLY SUMMARY | |
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On 5 March, the ECB announced further rate cuts in the eurozone to 1.5%, though it seems that in the short term there will be further cuts as his last words suggests, this makes the descents of the Euribor increasingly less deep, meeting ground close to it.
In the week we correspondel Euribor hits new record low, closing the week at 1.87%, down slightly from 1.92% last week in reference to a year. In all likelihood, March is the first history month Euribor to close below 2% and close to 1.90% ..
The citizen review mortgaged means that its economy will soon get a break after noting strong sales in your mortgage that can be achieved and in many cases exceed 300 euros on the revision of a year ago.
The Index of Consumer Prices (HICP) or Harmonized Inflation (measured in the same way in all countries of the Euro zone), in Spain fell in February tenth , to put the annual rate of 0.7% since marked 0.8% in January, thus continuing the path of moderation in prices that began in July 2008 as the leading indicator developed by the National Statistics Institute (INE).
It will be a new low since June 1969 confirmed the definitive national data of inflation to be published on 12 March.
Week of strong rises in oil prices on both sides of the Atlantic.
Meanwhile, a barrel of Brent for delivery in April goes up to $ 51.40 per barrel, representing an appreciation of 15% from the $ 44.71 weekly for the previous week.
Its counterpart, the barrel of West Texas Intermediate for April delivery also makes a similar behavior after closing at $ 52.02 weekly per barrel, when just last week at $ 45.73.
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Last week we attended and recovery of the Euro against the Dollar, but this week seems to take hold this upward trend, after trading $ 1.35 per euro, a rise in the euro / dollar 4.6%, mainly due to the less aversion to risky assets in the U.S. to stock up, as well as positive statements by the Fed to encourage exchanges.
Other changes of exchange here .
Stock markets around the world continue with the recovery trend that began last week, following the improvement of health of the banking sector.
The IBEX 35 recovered positions and closed the week at 7,710 points, up to 4% next week. Dow Jones also manages to maintain a positive balance the week closing at 7278.38 points the, albeit with a differential of less than 1% due primarily to return to the red of the last day of the week, probably on profit-taking day.
However, do not let your guard down because many experts believe that, although it seems that the worst of the banking sector is already happening, the second wave of the crisis is yet to come, and it is caused by the fall in production industry and the sharp increase in unemployment generated in the first phase.
Optimists believe that in late 2009 and early 2010 we will begin to feel symptoms of global improvement, although the pessimists believe that the crisis will not begin to subside until at least 2012.
