A week of thepositivity For world financial markets, from one side of the ocean to the other, with the central banks that have been the master. In the background, the unknowns linked to the possible impacts on the world economy of war on the duties launched by the United States weigh.
Federal Reserve leaves rates unchanged, waiting for clarity
American rates were left unchanged as expected. The economy is alwaysand described as in progress at solid rhythmbut obviously we take note of the growing uncertainty of the economic outlook. Inflation continues to be “moderately high” and the Fed remains alert on the risks in both directions for its double mandate.
Governor Powell He still underlined the risks related to the duties on inflation, adding, however, that this could be transient. The banker added that even if the data remain solid, the survey report an initial impact of the duties on the economy. The risks on inflation and economics balance, so the Fed can afford to wait a greater clarity of the picture.
Before the Federal Reservethe Bank of Japan was expressed in the field of monetary policy, which maintained unchanged interest rates at 0.50%, in line with the expectations of the market. Ueda said she was quiet on the level of inflational trend and that raising rates to fight inflation in food and energy would be wrong. The Governor admitted that the US commercial policy feeds uncertainty.
With the inflation that further approached zero in Switzerland, the Central Bank of the Confederation has further cut the reference rates of reference, to the extent of 0.25 percentage points (25 basic points). The BNS guide rate on the Franco thus drops to 0.25%.
Closes the lap dElle Central Banks, the Bank of England (BOE) which decided to leave the interest rates at 4.5%, hitting the expectations of analysts, after cutting a quarter point used in February. The decision, which reflects the recent rebound of British inflation, well above the 2%target threshold, was taken by the Directory with a large majority: 8 in favor of 1 component that would have preferred a new cut.
UK: the economy slows down
Boe keeps Unchanged rates while the United Kingdom economy continues to encounter difficulties, with the contraction of GDP recorded in January and the growing fears of a possible global commercial war that increase uncertainty.
The US data attenuates the fears of a next recession
In the economic forecaststhe central bank uses He raised core inflation estimates to 2.8% in 2025, reducing those on GDPs, which still do not incorporate the impact of the duties, while the president of the ECB, Christine Lagarde, said that 25% use would weigh for 0.3% on the Eurozone GDP. Returning to the Fed, Governor Powell in fact minimized the growing concerns about the negative effect of the duties and, the data on the sales of houses, better than expected, have attenuated the fears of a next recession in the United States. Meanwhile, the macro data on the labor market highlighted a certain resilience: the number of Americans who requested the unemployment subsidy has slightly increased last week. The initial unemployment requests, an indicator of hiring, increased up to 223,000, just below the expected.
Dollar in ascent
The dollar is recoveringOe pushes the euro to area 1,084, after the Fed has shown that he has no haste in the road to cuts at interest rates, confirming, for the moment, two moves by the end of the year. Portray the bitcoin that moves on 83,800 dollars.
Gold: prices are strengthened above $ 3,000
Exacerbate of geopolitical tensions and the commercial war launched by American president Donald Trump once again push the gold prices that strengthens above $ 3,000, reaching the new record of $ 3,052.
Among others commoditiesS, oil prices start the week on the rise, after the previous correction, despite the cut of estimates by Goldman Sachs. The business bank joined the others and cut the forecasts on the raw prices, indicating a price for the Brent at an interval of $ 65-80 per barrel from 70-85 dollars indicated previously.
The weekly performance of bags
The palm of the upside this week is conquered by the square of Madrid which brings home a progress of over 4%. Also well, Milan uphill of approximately 2.7%. Relizi over 1% for Frankfurt, Paris and London. The ending aims for progress also for the Wall Street bag.
The best and worst in Piazza Affari
In Piazza Affari, Saipem brings home a rise of 8.8%. Well, tooand Tenaris that goes up 6.3%. Among the banks, MPS closes in progress by 7.1%, Mediolanum of 6.3%and Mediobanca by 5.9%. The worst Blue Chips are, on the other hand, amplifon and Diasorin, both down by about 3%.
