The fact that the Shanghai Stock Exchange have valued can be explained by the fact that these signs of weakness can influence the Beijing authorities to adopt new measures to stimulate the economy.
The increase in inflation may be signaling some recovery in economic activity, particularly consumption. This fact mitigates the fears aroused by last fall in imports and exports.
The results of the banking sector, published on Friday, were entirely good and managed to alienate some fears caused by Alcoa and Ericsson. The President of the Fed argued that the central bank can tolerate a higher than desired inflation to ensure that the economic expansion continues to solidify. Today, the Vice President Stanley Fisher will be present at a conference organized by the Economic Club of New-York.
The appreciation of oil in the Asian session were due to the decline in the dollar and a study by Bernstein which indicated that the accumulation of world oil reserves decreased in the 3rd quarter of this year, reaching the lowest value since the last quarter of 2014.
Oil (quoted in New-York) continues to trade in a very volatile way but not descending significantly below 50 USD / barrel has been enough to give some support to its sector and more indirectly to the market as a whole. These good results overshadowed economic data, which seem to strengthen the arguments of those defending an increase in interest rates in December.
Today, Asian markets had a relatively quiet session, achieving modest gains. In Japan, valuations were more significant due to various business news and the interruption of the last two days recovery of the Yen against the Dollar.
Asian markets closed in a slight downward. The appreciation of the dollar pressed the price of oil and its sector. However, the Japanese market was favored by the downward trend of the yen against the dollar, a behavior that favors the major exporting companies.
The behavior of Italian banks can influence the behavior of the Spanish and German pairs in a week in which many European banks will publish their quarterly accounts.
Today DAX reached 10825, overcoming the level of 10800. The medium-term consolidation phase may be over and a new upward movement is now technically possible.
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