The Ibex 35 has been unable to finally overcome the statements of Jerome Powell, president of the Fed, despite the increases of Banco Sabadell and Santander in addition to Telefónica. The selective has come to turn around and rise to 0.2%, but has finally closed with a decline of 0.8%, to 8,286.8 points. However, the Spanish selective has closed the general calculation of the week with increases of 0.75%.
- 11.656,600
- 0,39%
The negative catalyst of Friday was what the president of the Fed said yesterday. It should be remembered that this Thursday Wall Street closed with strong declines due to the falls in technology and after what Powell himself commented.
POWELL AND ITS INFLATION FORECASTS
The chairman of the Federal Reserve said Thursday that the economic reopening could create "upward pressure on prices." Of course, he considers that any price increase in the short term will be transitory. Powell also referred to the rise in bond yields, but did not give any indication of how the central bank intends to slow it down. Some investors expected him to signal his willingness to adjust the asset purchase program.
"The chairman of the Federal Reserve chose not to put out the fire of inflation. He stuck to his previous guidance that recent inflation is transitory, expressing his comfort with current movements in the markets, as the Fed is very focused on help job recovery, "explains Jeffrey Halley, Asia Pacific analyst at OANDA.
Jerome Powell's words sent US bond yields higher, and the yield on the 10-year bond again surpassed 1.5%.
RAISES ON THE CRUDE
Oil continues to rise at this time on Friday, with Brent at $ 68.17 and West Texas at $ 65.04. OPEC + finally decided on Thursday not to increase production, while OPEC leader Saudi Arabia will maintain its voluntary cuts of 1m barrels per day.
However, Russia and Kazakhstan will moderately increase their pumping by 150,000 barrels per day. In his speech, the Kazakh Minister of Energy, Nurlán Nogayev, highlighted the positive dynamics of the fight against the coronavirus and the gradual restoration of demand in the market for oil and its derivatives.
CHINA SAYS IT WILL GROW MORE THAN 6% THIS YEAR
China has set a growth target of more than 6% for 2021, as announced on Friday by Chinese Prime Minister Li Keqiang at the Chinese People's National Assembly, the most important political event of the year in the country.
China posted 2.3% GDP growth last year, becoming the only major economy to expand amid the coronavirus pandemic. However, according to CNBC, the accuracy of the country's official economic figures is in doubt.
OTHER MARKETS
The euro is now trading at $ 1.1928, while gold and silver are down. Gold is trading at $ 1,692 an ounce and silver at $ 25.30.
Cryptocurrencies are also retreating. Bitcoin falls 1.6% to $ 47,283 and Ethereum 3.5% to $ 1,472. Finally, it should be remembered that today Moody's reviews the rating of Spain.
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