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The Ibex registers a weekly advance of 1.7% but cannot with 7,500 points

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The expiration of options and futures on both sides of the Atlantic, known as 'quadruple hour witch', has marked the end of a week that has been quiet and in which the most notable was the sharp rise on Tuesday, with the excuse of the latest actions of the Federal Reserve (Fed)as well as the nerves and caution that have persisted fearing that Covid-19 case flares (especially in the US and China) will increase. The Bank of England has also focused attention. Finally, this Thursday he raised his stimuli to a total of £ 745 billion. ANDl Ibex has risen 0.32%, to 7,414 points, in line with the rest of the European stock markets.

This Friday we attended a meager day regarding appointments on the agenda, in which the speeches of several members of the Fed, including the president, stand out. Jerome Powell. However, after his appearances these days in the Senate and the US Congress, he is not expected to have many news to announce. Further, there is a meeting of the European Council for discuss the € 750 billion aid program. No deal is expected today.

European leaders have also met to try to reach an agreement on the economic recovery plan. A meeting that has ended without consensus, so they will meet again in mid-July, this time it seems that they will be in person.

The President of the ECB has alerted the Twenty-seven and ensures that if the negotiations continue along the same path, the worst will be yet to come. Lagarde has warned that a "failure" in the negotiations on the reconstruction fund "could lead to a change in that confidence" generated by the stimulus measures taken so far

Across the Atlantic, Democrats in the House of Representatives presented a $ 1.5 trillion infrastructure plan last night. The Speaker of the House of Representatives, Nancy Pelosi, presented the bill called 'Moving Forward Act' at a press conference, explaining that it would build the infrastructure "in a green and resilient way." Experts point out that this issue of the infrastructure plan in the US, which would revive the economy and for which Donald Trump has been advocating for years, will continue to be in the short term.

Otherwise, the employment data who met on Thursday in the US continue to show weakness, but there are some small positive aspects, says David Madden, an expert at CMC Markets in London. Still, he adds that "it is worrying that only a small percentage of people have returned to the labor market".

As for oil, it rose last night and continues to advance this Friday (Brent barrel: $ 41.90; WT barrel: $ 39.20). OPEC's technical committee did not make any additional recommendations last day to implement more production cuts, focusing on members who have not adhered to the current agreement and do not meet their offer reduction and noting that any nation that fails to comply will have to make up for it between now and September.

Finally, regarding the technical aspect of the Ibex, Bolsamanía experts recall that has its first resistance level at 7,663 points. In the accumulated index of the week it rises around 2%.

. (tagsToTranslate) Ibex (t) records (t) progress (t) weekly (t) 1 (t) 7% (t) but (t) can (t) 7,500 (t) points (t) Category: All (t ) Category: Market Report (t) Category: Europe Report (t) Category: International News (t) Category: Market Report – close (t) Category: Pulses (t) Category: Pulses Europe (t) Category: Market Pulse



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