Wednesday Jan 19, 2022

The dollar strengthens, the price of oil fell. The fuels go up on the bag pumps

This week was marked by a strengthening dollar. The price of oil fell by about $ 4 due to signs of declining demand for fuels and a strengthening dollar. World markets lose and 2%. The Czech crown has strengthened.

The focus of attention this week was the clear US central bank Ben Bernanke. To the surprise of many, he went to the weak US dollar, when he said that the Fed is monitoring the weak dollar and its impact on economic growth and inflation in America. According to him, the pressure on the weakening dollar caused the non-growth in import and consumer prices.

Ben Bernanke’s jet has never given such significance to either the weak dollar or the inflationary risks it poses. He made it clear that the US central bank would not cut rates for years, when it emphasized the sustainability of price stability.

In addition to Bernanke’s release, the US dollar was supported by good hearing from the US economy. Both the growing ISM index and factory orders were pleasantly surprising, and the ADP employment indicator also performed better. The dollar thus reached a weekly high of $ 1.5390 per euro, which is 1.1% in response to the week.

Pound ztrcela, euro mae ztrty

The dollar lost not only the euro, but also the Japanese yen, the French franc and the British pound. The economy of the United Kingdom still shows an unfavorable weakness, especially in the housing market, and therefore the pound lost the euro. Libe was not helped by the Bank of England’s decision to keep rates unchanged at 5.0% for years.

On Thursday, the European Central Bank met, leaving the rate unchanged, but at a press conference we listened to the ECB’s JC Trichet’s report on inflation and discussions on rates. Thus, Trichet did not rule out external rates in the euro area for the fifth session in July. The euro thus drastically wiped out its losses from the arrest this week.

The price of oil has fallen

The medium-sized supply of oil, gasoline and diesel in America confirmed the fact that demand for fuels fell due to high prices. Gasoline and diesel supplies grew more than expected, while oil supplies continued to decline. The decline in oil prices was also supported by the decision of other countries in Asia to subsidize gasoline prices. Fuel prices will thus increase by several percent for pumps, which is likely to affect demand. Gradually, India, Malaysia, Indonesia and Taiwan decided. The falling oil price was also supported by the slc dollar.

See graph

The price of gold thus reacted to the strong dollar and the falling price of oil. Gold weakened from $ 886 to $ 871 an ounce, down 1.7%.

Stock indices in ervench hearing
The world stock markets were in a sell-off position. It was mainly financial titles that thly the world stock market down. It was mainly speculation that the credit crunch will not end and that a large investment of the bank has made losses. It has been speculated that Lehman Brothers got into the pot, which was not confirmed in the end. Stock markets in the US lose between 0.5-2%. German DAX strt 2%, London FTSE about 1.5%. Japan’s Nikkei is unchanged from last week and is losing only 0.1% so far.

The PX index weakened, while the koruna strengthened sharply

The crack index is losing most of all in the Central European region this week. So far, it is in the red about 2.2%, while the Budapest BUX loses only about 1.6% and the Warsaw TIG only 1.5%.

See graph

On the other hand, the Czech koruna was again surprised when it broke through the strong limit of 24.85 koruna per euro and strengthened to 24.51 koruna per euro. It is currently trading at about 24.60 crowns per euro. This answer sent this week about 1.7%. No one can answer the question, because it happened. The day of the positive date, which would support the Czech crown, was not published. So I believe that it is a technical business, or even the mood in the region was not favorable. Other currencies tended to weaken slightly.

The situation has calmed down against the Slovak crowns and the Hungarian forint, which was the first mood in the region in recent weeks. Both the Polish zloty weakened by about 0.2-0.5%. We have not been able to obtain significant macroeconomic data in these countries this week, but in five weeks inflation will be published in the Czech Republic as well as in May, Hungary and Slovakia.

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