Currencies  |  February 25, 2013 12:56:46

UK out of the AAA club End of last week has brought two great administration. Japan continues in its policy kráčania where still no central banker was not. The new governor BoJ is likely to happen Kuroda, who is a supporter agresívnej monetary policy. Japanese Prime Minister Abe wanted their man and the BoJ will have him. And can not afford to do its discretion because his preferences are a record (over 70%). Japanese in need of his hero, who would restore the economy face. Well it will have monetárneho hero. Japanese yen and fell to record lows this year and the lowest level since May 2010.Japanese shares tlieskali course and the difference from JPY their positions at least in part sustain their.

That's what us Europeans were more interested in the reduction of Britain rating by Moodys. UK and already has the highest rating for all three rating agencies. Nor was it the reason for the current budget or deficit (budget not know yet), but more generally weak economic outlook, which given the amount of debt the UK fiscal position worsens it. The biggest developed G7 countries in the world - so it does not have the highest rating of five. The club AAA has remained the only big countries, Canada and Germany. If counted even smaller countries, we behold Singapore, Holland, Denmark, Finland, Sweden, Norway and Australia. And of course Switzerland. So eight countries plus traditional safe haven.Gradually we unravel this club and do not see countries that stood by him to enter. The market mood was not spoiled it, but the cable went to 16-month lows.

If we talk about the mood, she is a good contrast. We see a strong reflection of the euro even commodities (especially precious metals and oil), in actions we see a furious buying spree. Foundation for any major purchases we see, but German shares (for example) gets used to go up against some good publishing (in this case, this result may be the Italian elections) and then gets used to correct. For this week we wait priam excellent data from the United States (revision of GDP from -0.1% to +0.5% in Q4, the growth of consumer confidence (Finalisation of the University of Michigan).This, however, ignores what is the biggest slump personal income of at least U.S. households since the beginning of the crisis (since 2007), when In January await the monthly decrease of 2.4%. Spend neklesajú rising, so Americans have once again begin a long slog to his economy. The government can no longer spend as much as before, so the saws again pull on the household. Orders of long-term consumption of goods should for January dropped by 4.6% and februárový ISM survey of the manufacturing sector should begin to decline. Although, of course, still remains in expansion. So the data for 4Q still good, those New Year's are starting to gradually deteriorate.

Headlinom today's election will be Italian, with the market nečaká Bersluconiho nothing less than the opposition.Todays Italian auction ended worse off, volume was not filled and revenues were slightly higher but the market already has an overflow clearly enough, and today the ide up, until something goes wrong. The first preliminary results of the elections, we expect about 15:00.

For the growth of German shares perforated tile is strong resistances in the band 7750/7800, which currently catapults us to tohtoročným peak at the 7880th If I break them, the technical view on the changing promotions to growth. The last German shares remain a safe harbor in Europe, the DAX whom is growing about 2.5%, Britain's FTSE by only 0.6% (well, at least from all the major European indices). According to the rate of growth of Italian shares shall also seems that a good outcome of a pending election.Then, however, we can already look forward to relevant data mainly from the U.S. (Wednesday) and Fridays officially škrtov automatic send-off in the American economy. Alternative does not exist yet.

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

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