Currencies  |  January 22, 2013 13:29:12

BoJ Fed followed, it is not enough to shares

Although yesterday we had literally slept through the day (most closely trade zone on the EURUSD since September 2010) today is the lack of motion on the market can not complain.

Merrily at dawn was already, at the time of deciding on BoJ monetary policy. Last day before this meeting of market speculation swirled amount and so they always stay just to wait, or BoJ meets expectations, or exceeds its shade. Očakávateľný result was a compromise. Nowaday BoJ Governor Shirakawa Admittedly it acknowledges that it is necessary to help the economy out of deflation and stagnation, but refused even a buck in the hands of politicians who have suddenly zmysleli turning off deflation and inflation turns on. Therefore, trying to keep your face (and independence BoJ), politician added that what is promised, but not reckless stimulus it will not. Inflation Goal ide to 2%, even though the original 1% of recent years was not met.QE being changed to infinite (in time), but until next year. A bland other nonstandard measures were not announced, although it is speculated that the reduced rate to the depository banks. Japanese stocks understand that the Shirakawa from the end of his term of office (probably April 2013) and more nedočkajú ceased graceful ride, which lasted from mid-November and reached the highest level NIKKEI since March 2010. JPY strengthened of course, but also commodity exchange.

Headlinom today's European trading investigation should have been Germany's ZEW economic sentiment, but shares began to fall very sharply (DAX by over 100 points) after reports that the German bank regulator BaFin said the biggest double to investment banks (one of which is Deutsche Bank) to get prepared case scenario for separation of investment banking from retail, to simulate the time to come for years.This report was surprising because administration from Liikanen Group's autumn 2012 was not the subject of debate, respectively. tonnes has been lost in other administrations. This is a group that should have to worry about creating a plan for banking structural reform. Pressure for reform has increased after this scandal to Libor manipulation of June 2012. Just as had been expected, administration combines key elements of the Dodd-Frank Wall Street Reform and also the UK Independent Commission on Banking. The aim is to decouple dealing on own account (proprietary trading) and trading for a third party from retail banking (taking deposits and granting loans). After Slovak taxpayers should have greater protection against situations where the hole-trade balance reports will cause losses caused by Bank, which suddenly ask for help taxpayers because they could be jeopardized by deposits of citizens.

Since the BoJ only meet the expectations of the Eurogroup and neither it (key knowledge is only that France urgently needs the interbank Union and all the forces pushing for the direct recapitalization of banks through ESM Germany hamper such efforts), this was the last straw for traders and began to retract from shares . Subsequently, however, he came ZEW and it was another shock, this time is positive. 36 Analysts estimated the evolution of this indicator, but neither nečakal that exploration ends preferably from May 2010. Shares are returned to roughly where they were, but the banks have caused concern that ostávame these numbers in red.

Today still pending U.S. existing home sales data, which should come out best from November 2009.Because we have a sentiment level (BoJ and German banks on the one hand, ZEW and good Spanish auction, on the other) and the expectations are high, flax other positive shock can prevent selection of revenue. Japanese and German shares that have been very supportive, and U.S. stocks today refused to grow up. It will be interesting to track whether we are indeed witnessing the formation of a peak in Action.

Normally publishes longer term view of the stock, but since Monday in U.S. markets were closed and on your daily chart spotovom shines zatváracia value of Fridays, that is not very relevant. On the graph we see intradennom abruption suportov at 1480 after the publication of the BoJ, after overflow German shares we saw spirited correction down. Even after the German sample data better come up and therefore could not overlook the downward direction in 1475 before the 1470thIf us even stronger results realitného sector is above 1484 and today nezatvoríme over 1480, male bovines dochádzajú card.

Author: Thomas Swimmer | TRIM Broker, as | Trading on exchanges TRIM Broker

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