The red numbers are the protagonists again and the Ibex-35 plays for 8,000 points
The downward pressure does not stop in global markets. After a session of significant losses in Europe and Wall Street, investors prefer to watch the bulls from the sidelines, fleeing risky assets. At least they will until the release next Wednesday of the US inflation data for June, the key to deciphering the movements of the Federal Reserve (Fed) at its next meeting.
Link Securities analysts expect that benchmark to be able to move the markets, either higher if better than expected or lower if it beats estimates. Until then, they don’t foresee any major moves in some stock markets that are also starting to notice lower trading volume, with investors also very alert to the start of the US corporate earnings season.
As has happened in recent quarters, these days will not be so marked by the accounts that the companies present during the first half of the year, but rather by the outlook of their directors regarding the end of the year in light of the complex economic scenario in which their companies operate.
Against this backdrop, the Ibex-35 lost another 0.4% to 8,034 points, with Acerinox, Fluidra, ArcelorMittal and the banks leading the way in a session marked by the new cyclical stock penalty.
The declines are repeated in other European markets, with the market being very aware of the de facto parity the euro has already reached in its crossing with the dollar. The single currency’s weakness against the greenback is a fact, and the cross between the two currencies, one of the most traded in international markets, is already moving at $1,006.
The single currency has fallen more than 11% against the dollar so far this year. A collapse accentuated by the aberrant rhythm of the normalization of central banks’ monetary policy, accentuated after the outbreak of the war in Ukraine and fears of the impact of a cut in Russian gas supply, giving us a greater impact on the eurozone economy.
That same Tuesday, investors will have an important reference in this regard: the July readings of Germany’s ZEW economic sentiment indices, which, as the experts point out, “reflect the perception that major investors and analysts have about the current state of the German economy.” economy, as well as their expectations about it.In principle, after improving in June, the values of these indices will have fallen again in July.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
