Currencies  |  March 04, 2013 14:25:13

Greece is becoming an emerging market U.S. to shares sequester mind

Automatic cuts in the U.S., or suspended on Friday, when the Democrats nor just themselves unable to agree on a coordinated procedure for how to avoid them. That is what the end of the fiscal year will be reduced across the board in the U.S. spend about 85 billion dollars. Those cuts will reach segment of Defence as well as social welfare. So stock traders but im on Friday showed no great sympathy and use better data ISM manufacturing sector as well as consumer confidence by the University of Michigan for the purchase of shares. Fridays cocktail stock: Dow Jones +0.25% SP500 +0.23%, Nasdaq Composite +0.30%.

Cuts and the impact on GDP

What impact will have the automatic cuts that have been scheduled yet in the summer of 2011 to the strongest economy in the world? According to analysts, Goldman Sachs reduced GDP this year by 0.6 percentage points and at most will take effect in the second and third quarter. Bank JP Morgan sees miernejší impact and that only at the 0.4 percentage point. The biggest influence are pending in the second semester. Most of the banks are expected like effect and none nečaká trip to Greece Belt tightening, which ultimately utiahla earth strap around the neck.

Greece is becoming an emerging markets

While it is still pending, that Greece is always the next year will grow, it is not yet confirmed. The company Russell Investments, which belongs to one of the largest advisers for the funds, he has lost patience with the landscape. Yesterday it rejected it from the list of developed country markets, and was ranked among the emerging markets.Scenery is from 2011 crashes when parameters of development of the economy as well as in the evaluation of operational risk category. Given that Greece has a comparatively large stock market like Mexico or Nigeria, but this is the administration that should cause tectonic movements in the market. Index of Greek stock markets today ASE decreases by 3.13%.

Portugal wants concessions from the Troika

On their death spiral vie behold Portugal, where the tightening Belt (dictation Troika) on the landscape very negative effects. Due škrtom protested over the weekend in Lisbon, half a million people and hundreds of thousands more was added in other cities. These involve the hitherto biggest protest since the creation of the crisis. Development of GDP, and unemployment is still lagging behind the expected evolution and the inhabitants already experiencing patience.

More please!

Portuguese politicians are aware that pressure and at today's meeting Eurogroup Lisbon wants to push the release of the terms of salvation. Landscape mainly wants more time to fulfillment of the conditions fiscal Pact. Given how many concessions already given Greece, politicians would not have a problem concessions approve. The problem is that all require compromise. The eurozone has 17 members, come from those major concessions wants to Greece, Portugal, Ireland, Spain and France, which is essentially a smaller half of the euro area. If conditions not being met by all eurozone countries, as it can investors trust? While it due believers Step ECB, euro area no aid or not free. So beware premature, stating that the crisis is behind us.Main phase of panic may be yes, but painful period imbalances is far from a solution.

View on today

Today's macroeconomic calendar is empty and the U.S. will trade with euro depend mainly on mood traderov U.S. stock market. If shares show his face more beautiful, it could reclaim the euro slightly and clear your recent gains. While we can not see room for stronger growth and due to drop below 1.30 suport consider Rasta in just interesting to sell.

Author: John Benaki | TRIM Broker, as | Trading on exchanges TRIM Broker

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