Political shock reflects in Ibex35
The euro falls sharply and European risk premia revive the region. The results seem to have woken up in the markets and have been extended especially in southern and peripheral countries and in particular also highlights France with the fall of its bonds, following the decision of President Macron to call early parliamentary elections, after his defeat in a vote of the European Union by the right-wing parties, also added to the interest of the president to involve France in the war in Ukraine, being that S&P has decided to downgrade France's rating to AA- debt.
Regarding the Euro elections in Spain: PP obtained 22 seats, PSOE 20, VOX 6 and the rest has been distributed in minority parties. At the European level, the shift has been slightly to the right causing the two main parties S&D (socialists and democrats) to have 134, 20 seats less, PPE has gained 4 seats more with 186, and CRE now has 73, having lost several seats in a generalized way all the parties being outstanding that of the Greens/ALE having 53, 21 seats less.
This as we say has affected the EURUSD, with a fall of -0.6% to the monthly low of 1.0733 dollars, being the 21-month low against the EURGBP of 84.49 pence per euro. As we have said, the political shock in Europe has also affected the IBEX 35 (Ticker AT: ESP35). The clear advance of the right-wing parties in several of the largest economies of the old continent has resulted in a bearish start for the IBEX 35, yielding around one point, having set intraday highs this Friday in the area of 11,400 points. In relation to companies in the Spanish index, Aena has downgraded its recommendation on its shares from positive to neutral.
If we look at the chart, 11,210 points is the current floor since June 4. Currently the price cut of the elections was a fact that could be predicted in advance but the price has been discounted during the beginning of the day and in the morning premarket. Looking at the RSI it is currently slightly oversold, and the price bell has a double bell shape with the current checkpoint price at 11,360 points and the secondary at 11,330 or so, which is the current price zone. It would not be unusual to see a sluggish week of trading with no volume leading us to touch low prices and try to get back to the average that has been currently being generated at the top of the bell.
Ion Jauregui - Analista ActivTrades
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Regarding the Euro elections in Spain: PP obtained 22 seats, PSOE 20, VOX 6 and the rest has been distributed in minority parties. At the European level, the shift has been slightly to the right causing the two main parties S&D (socialists and democrats) to have 134, 20 seats less, PPE has gained 4 seats more with 186, and CRE now has 73, having lost several seats in a generalized way all the parties being outstanding that of the Greens/ALE having 53, 21 seats less.
This as we say has affected the EURUSD, with a fall of -0.6% to the monthly low of 1.0733 dollars, being the 21-month low against the EURGBP of 84.49 pence per euro. As we have said, the political shock in Europe has also affected the IBEX 35 (Ticker AT: ESP35). The clear advance of the right-wing parties in several of the largest economies of the old continent has resulted in a bearish start for the IBEX 35, yielding around one point, having set intraday highs this Friday in the area of 11,400 points. In relation to companies in the Spanish index, Aena has downgraded its recommendation on its shares from positive to neutral.
If we look at the chart, 11,210 points is the current floor since June 4. Currently the price cut of the elections was a fact that could be predicted in advance but the price has been discounted during the beginning of the day and in the morning premarket. Looking at the RSI it is currently slightly oversold, and the price bell has a double bell shape with the current checkpoint price at 11,360 points and the secondary at 11,330 or so, which is the current price zone. It would not be unusual to see a sluggish week of trading with no volume leading us to touch low prices and try to get back to the average that has been currently being generated at the top of the bell.
Ion Jauregui - Analista ActivTrades
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.