BOSSA.CZ (BOSSA.CZ)
Markets  |  August 17, 2012 11:42:16

"Thank you," Mrs. Merkel! (17.8.2012)


German Chancellor Angela Merkel yesterday brought to the markets of positive mood, what is before the weekend relieved many investors. In a speech in the afternoon, Canada supported the plans of the European Central Bank chief Mario Draghi to fight debt crisis. It also called on its European partners to quick agreement on the fiscal and political union. Euro to these events and respond positively to the U.S. dollar scored gains of 0.6 percent.

Speech by Ms Merkel had a similar effect, what was the performance of the ECB chief Mario Draghi 3 weeks ago. Both stress at least temporarily lighten the mood and provide market confidence in the European economy. Despite the fact that A. Merkel just repeated what they said M.Draghi and fundamentally in the euro area actually nothing has changed, the rhetoric of German Chancellor perceived very positively by investors.It is for this reason that Germany was the biggest opponent yet common issue bonds, which would be after Thursday could change.

On the other hand, the markets still reigns holiday mood with lower trading volumes. Therefore, we can certainly look forward to fall when everyone returns to their work. Europe has still got a lot of serious unresolved problems. For example, the question of Greek and Spanish banks.

September, therefore, rich businessmen and economic events have something to look forward to. All meetings will start premium of U.S. bankers and economists at Jackson Hole, USA. Will there also be a speech by U.S. Federal Reserve chief Ben Bernanke. Subsequently, you will hear again in Greece, which should be to survive the additional funds.

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