The Ibex flat and cautious awaiting data from Germany and the IMF

The Ibex is trading flat and cautious (-0.1%. 7,430 points) awaiting the publication of the IFO in Germany. After the favorable PMI of yesterday, the experts of Danske Bank estimate that this reference will send the same message: "The recovery is strengthening, but normality is not completely back."

This Wednesday, the IMF will publish its 'Prospects for the World Economy'. "We expect it to lower its global growth prospects compared to its April forecast. This is mainly due to a more pessimistic view of emerging markets, but even the euro area and the United States may see lower growth estimates despite the opening of the economies, since the fall in the first semester may be deeper than expected, "point from Danske Bank.

The spread of Covid-19, particularly in the US states, is still watched with concern, but the impact on the market remains somewhat limited. It was announced Tuesday that a region of Germany will be closed again after more than 1,500 workers at a meat manufacturing plant tested positive for Covid-19. Late last week, Apple announced its intention to re-close stores in the US states that have seen a jump in the infection rate.

Dr. Anthony Fauci, a medical expert from the Donal Trump administration, has warned that there is a "worrying" increase in the number of new cases of coronavirus in certain US states, but added that an "absolute closure" may not be necessary. .

Prime Minister Boris Johnson confirmed last day that some closure restrictions in England will be eased on July 4. In addition to that, the guidelines for social distancing will also be relaxed. The change in the closing rules will mean the reopening of pubs, restaurants, galleries and cinemas.

Inventory data from the International Energy Agency (IEA) will also be in the spotlight on Wednesday, after West Texas and Brent hit their highs of the past three months yesterday.

Finally, regarding the technical aspect of the Ibex, Bolsamanía experts point out that, as long as we have increasing minimums and maximums, it continues to make hope. The first resistance of the index is still at 7,664 points, the daily bearish hole of the session of June 11.