A week contrasted for the main European bags, marked by the start of the season of the quarterly in the USAwith the accounts of the banking big players who have opened the dances of the Earning Season. In the meantime, the question duties She returned to the foreground, after the new threat of rates advanced by the President of the United States, Donald Trump, in the EU and Mexico, starting from August 1st.
Trump threatens Powell’s dismissal, then denies
The one on the duties was not the only lunge of the tycoon. During the eighth, in fact, the tenant of the White House ventilated the hypothesis of a dismissal of the number one of the Federal Reserve, Jerome Powell, “offender” according to Trump that he had not lowered interest rates, in the face of an inflation that accelerates, in the USA. The rumors of the dismissal immediately returned with a public denial by the US President, but so much was enough to make the American lists and consequently European price lists.
US inflation: summer data confirm the duties impact, the space for gradual cuts opens
Consumer prices risen by 2.7% on an annual basis, above 2.4% in May and beyond the expectations of analysts (+2.6%). The core index, net of energy and food, more observed by the Fed, rose by 2.9%, below 3% of the consensus and after the +2.8% detected in May. Signals of pressure on prices attributable to the introduction of duties are observed, with the basic goods, in particular the domestic furniture sector, which contributed for about 0.05 percentage points to the monthly increase in the PCE Core. However, the overall impact seems, at the moment, more contained than the most pessimistic estimates, explains Jeffrey Cleveland, Chief Economist by Payden & Rygel.
Eurostat confirms 2%inflation. ECB towards unchanged rates
2 percent inflation in the Eurozone in June. Eurostat confirms the preliminary estimates spread at the beginning of the month. Data that arrive at a week of the meeting of the Board of Directors (24 July), called to make decisions on interest rates, whose orientation seems to be to leave the current levels unchanged, on the other hand the general inflation of the Eurozone is anchored to the level that Frankfurt is liked.
Stable dollar despite Trump’s decisions on the duties
The letters that President Trump continues to send to commercial partners, announcing very high duties starting from August, are interpreted as yet another postponement of its deadline on July 9 and are mostly considered a simple negotiating tool, underlines Ebury in its weekly report. The currencies of the G10 remain in restricted intervals, and it is remarkable that the market reaction is to ignore the news of the duties, or even to support the dollar – a clear change compared to the initial response to the “day of liberation” in April. Only the US Treasury securities market continues to send disturbing signals, with long -term bonds that undergo sales after the approval of the US budget budget law and the prospect of an increase in deficit, but also there the trend is so far ordered. This resilience, reads the report, will certainly be tested this week. The markets will carefully follow the commercial negotiations for any signal of progress. A further source of concern for the dollar are the continuous attacks of Trump at the Fed and the pressure on the central bank to lower the rates faster than it is inclined to do.
Bitcoin exceeds every record: the key factors behind the growth of the last few days
In the last few days Bitcoin has touched new historic maximums exceeding 120,000 dollars, driven by strong inflows in the Etf Spots and a marked imbalance between supply and demand. But to support the rally, explains André Dragosch, Head of Research for Betwise Europe, other dynamics also contributed, such as the prospects of a most expansive tax and monetary policy in the United States and the rumors about the resignation of the president of the Fed.
The weekly performance of bags
The worst performances of the week are recorded by the squares of Madrid and Paris in decline, both of over 1%. Fractional descent of Frankfurt (-0.6%) and Milan (-0.5%) are fractional. He holds the London square with +0.2%. The ending sets at two speeds also for the Wall Street stock exchange, with the Nasdaq in pole position after Taiwan Semiconductor Manufacturing gave verve to the technological sector, communicating a record profit of the second trimming in the sprint of 61% compared to the previous year.
The best and worst in Piazza Affari
In Piazza Affari, Best Performer is Prysmian with a +5.3% who benefited from the revision on the rise of the predictions by the end of the year spread by the French competitor Legrand. Among the other best titles, Technoprobe (+4.7%) also confirmed the “outperform” judgment. Also well, Leonardo +5.3% and Italgas +4.5%, the latter renewed the agreement with the British Cadent until 2028. On the side of the discounts, he closes Stellantis in strong decline which slips by 12.1% after the announcement of the farewell to the production of hydrogen engines. Buzzi also down -10% in the wake of Renault’s profit warning.
