Weekly Summary from 2 to March 6, 2009
| Date: March 7, 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%, leaving the door open to further cuts in the future ..
For its part, the Euribor reached lows that marked the ground breaking in March 2004, closing the week at 1.957% in reference to a year. In all likelihood, March is the first history month Euribor to close below 2%.
The Spanish means check mortgaged its economy will soon get a breather after rebate on your mortgage note you can reach and exceed in many cases compared to 300 euros a year earlier review.
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.
A barrel of Brent for April delivery remains with weekly closing levels similar to the previous closing at $ 44.80 a barrel compared to $ 45.88 per barrel which closed the previous week.
Its counterpart, the barrel of West Texas Intermediate for April delivery also maintains similar levels to last week, but picking on the Brent, buying at the end of the week at $ 45.60, after the ECB announced new rate cuts announcing an increase in the weakness of the European economy compared to other world economies.
For details of the listing click here .
The ratio Euro / Dollar is exchanged at the end of week at $ 1.266 per euro traded, continuing its gradual devaluation against the dollar, mainly due to increased weakness in the European economy and the falling price of money in the eurozone countries .
Other changes of exchange here .
The bad news and falling stock macro give no respite to investors who try to salvage their investments and savings of everything that smacks of risk ..
The IBEX 35, the main reference market in Spain, returned to 2003 levels, closing at 6936.90 points, representing a fall of almost 60% from May highs last year.
In summary, an unprecedented situation where everything is at minimum interest rates, stock market, inflation, employment, trust, economic forecasts and business ...
In any case, it sounds all wrong, because if we observe, is the first time we have interest rates at current levels in the eurozone, as well as low inflation, which can spur consumption in the medium term, employment and a return to growth. If we analyze from a technical standpoint, the stock has cut positions to levels 60%, which means it could be in near minimum nivleles rebound because history has shown that after prolonged growth falls are often succeed to levels between 50% -65%, after which rebounds occur at least partial, recovering half of the fall. Consolidation of positions will depend on how the economy evolves, so we could see a rebound soon to boost the IBEX to 9,000 points soon (technical rebound).
But for that we should receive some respite in the short term, such as unemployment levels that appear to be stabilizing, or indices of industrial production recovered positions, in addition to inflation must be contained at current levels, ie, not achieving deflation, or at least not for an extended period, as this would create a downward spiral of consumption, employment, spending that could lead the European economy (extrapolated to the world) to a deep chasm and exit difficult.
