Friday May 20, 2022

The shares took a breather, the koruna and the euro sl

The stock market of horses has strengthened by interesting values, but this trend cannot be expected to last. Experts on the contrary, on the contrary, gave declines. The euro is still doing well, but not in crowns. The euro last week strengthened again.

As a result, the results of Norwegian retail sales in Germany, which fell unexpectedly by 1.6%, were anxious, while analysts stumbled with their growth by 0.5%. This information sent the euro down, when it weakened from 1.576 to 1.562 EUR / USD during the period.

Shares around the world began to rise despite the massive write-downs of two European banks, with Germany’s Deutsche Bank announcing that it would be forced to write off $ 3.9 billion in the first quarter, while the Czech UBS saw $ 19 billion in the same period. However, UBS announced again that it was going to increase its capital by $ 15 billion to help heal its losses, which significantly helped their actions. f UBS Marcel Ospel, who has been leading UBS since 2001, has resigned. In the last six months, UBS depreciation has reached an incredible $ 37 billion.

Following the announcement of the losses of Deutsche Bank and UBS, the losses of the banking sector associated with subprime mortgages amounted to 170 billion. However, the rating agency Standard & Poors estimates that the total losses of banks will amount to 285 billion. dollar.

Thorn sentiment initially rose by a new $ 4 billion, which was gained by a major US investment bank and the fourth largest securities trader on Wall Street, Lehman Brothers, by selling preferred shares. The bank is trying to prevent similar speculations, which were recently sent to the knees by competing Bear Stearns. Shares of Lehman Brothers rose by more than 17% after the bank announced that demand for this new issue had “sharply” strengthened the offer.

Investors were encouraged by the results of the Chicago PMI index, which pleasantly surprised the growth from the Norwegian 48.3 points to 48.6 points, which was above the current analysts, which stumbled with the result of about 47.5 points. The S&P 500 was 2.2%.

Ben Bernanke, the US Federal Reserve, first said Wednesday that the recession in the US economy was possible as real estate construction, employment, and consumer demand worsen.

Shares went up, unfortunately only short-term
In the first days of this week, British stocks rose a staggering 4.8%, French 5.5%, German 4.4% and Czech stocks outperformed the PX 2.0%. US stocks rose 3.9% in the first days of this week and Japanese stocks 3.9%. In connection with the central defeat of Ben Bernanke, we cannot expect a long-term growth, let’s prepare for another slump. The daily development of Czech events can be observed in the following graph.

The euro has strong support, the koruna has beaten it
Eurodollar currency pr was around 1.567 EUR / USD on Wednesday evening. Traders continue to secretly continue to dream of US rates in the US, while in the Eurozone this scene will dissipate after Monday’s results of regular inflation. In the US, the manufacturing sector is in contraction, domestic consumer demand is weakening and so the real estate market is in crisis. On the contrary, the euro area appears to be resilient to these negative influences and the strong euro, which, together with the strong anti-inflationary policy of the ECB, is very much in support of the euro at the current high level. The development of the EUR / USD exchange rate can be observed in the following chart.

On Wednesday, the Czech koruna went under the magical limit of 16 crowns per dollar and not far from the historical low, when the exchange rate hovered around 15.99 USD / CZK. This week, the koruna strengthened the euro from 25.31 to 25.08 EUR / CZK.

Ropa nahoe dole
The development of oil prices this week is still reminiscent of driving to the mountains. Severomosk Brent started trading at $ 103 on Monday. In the third place, the price of oil fell sharply due to the positive first from the financial sector and to the level of $ 99 per barrel. After Ben Bernanke’s medium-pessimistic speech, traders again moved from stock markets to commodity markets, and as a result, Brent North Sea traded at $ 103.80 a barrel on Wednesday night.

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