The impact of the week brought data on the current balance of payments of Japan for December. He ended up in their dwelling, not analysts expected. The balance of payments was first reported from Germany, where foreign trade ended in December with a slightly larger surplus, not the markets foresaw.

Dleitmi macro data interwoven bird and voiced about fiscal stimulus in the US

The UK’s foreign trade balance ended in deficit, but even so it was a result of something better, analysts did not predict. The results for Japan, Germany and the United Kingdom did not differ from the eyes, nor did they affect the strong trade.

The day was on the agenda dates for December industrial production in Italy and France. Both dreamed in the meantime and confirmed that the EU core is being hit hard by the global recession. The big blow for the Czech Republic was initially the unemployment in January, which rose from 6.0% to 6.8%, which was twice as much, analysts said. In the same spirit, it was initially carried out in December by industrial production in our countries, which fell by 14.6%.

On Monday, US Treasury Secretary Timothy Geithner’s impatient speech on financial assistance to financial institutions was unhappy, and it was announced that a so-called “bad bank” would be set up to buy bad assets from US banks. It is to receive a capital of $ 100 billion from the state, which is expected to be a total of $ 500 billion due to cooperation with the private sector. Another $ 100 billion is earmarked for working with the Fed to help consumers and businesses alike.

On the same day, the US Congress sent a sort of stimulus package proposed by Sent to $ 838 billion. It is about external data on infrastructure, for bicycles, etc., and at the same time reduced the tax for it and the middle class in the amount of about 300 billion dollars.

In the middle of the week, she drank positively at first from Great Britain. There was a relatively small number of new applicants for unemployment benefits during January.

The North American continent then continued to hear abundant hearing about trade balances this week. The Canadian trade balance ended in slight controversy to the surprised analyst. The US trade balance also turned out to be more deficit, not probably healthy, in December. A very positive surprise was the January retail sales in this country, which increased by 1% in the meantime, when a decrease of 0.8% was expected. Perueno thus was a full year decline in ad. It was confirmed that the American labor market is very noticeable, when in the 6th week of this year more than 600 thousand people drank a number of jobs with enough support for unemployment.

Pten day brought many interesting macro sel

The preliminary estimate of GDP for the 4th quarter in the Czech Republic assumed a year-on-year growth of 1%, but the quarter-on-quarter estimate was a decrease of 0.6%. The recession is therefore also in us. GDP growth is expected to grow this year.

An hour or two was published, so the estimate of German GDP for the last quarter of last year, which spoke of a quarter-on-quarter decline of 2.1%, which is really unprecedented. At first, this is very negative for us, because Germany is our largest trading partner.

The estimate of GDP for the same period as in Germany was published for the whole of Eurozna and spoke of a quarter-on-quarter decline of 1.5%. It will be unclear who will pay for the situation in the world, whether the USA or the EU. On Friday afternoon, the House of Representatives of the US Congress decided to approve the amended stimulus package. In the case of approval, the signing of Barack Obama’s signature can be expected very quickly.

Stock markets opt in dispute

The meeting of the week was on the stock markets shifts, when e.g. The German DAX index ended slightly higher, the American DJIA ended the day in a small amount, while the Czech PX index rose sharply.

The banking stock was particularly successful after the British bank Barclays announced that its same profit in 2008 had practically not changed compared to the previous year, which is a very good result of the conditions at the end of the year. In Prague, Erste Bank shares rose by 6%. It is worth noting that the shares of EZu jumped up by 6.6% for this title.

ter was marked by a large decline in stock markets, with the German DAX falling by 3.5% and the US DJIA even by 4.6%. In contrast, the decline on the PSE was only slight. The reason was disappointing with the speech of the American Minister of Finance Geithner, who did not provide full details about the filled protective packages.

On Wednesday, the shares of the banks lost quite a bit. The funds of the week were still very low, both in the USA and in western Europe. Traders, especially after the previous selected profit, were willing to open a new long position.

However, the PX index depreciated 1.5% and paid for negative sentiment in emerging markets. The main shares of Erste were down, which saw more than 9% of the value. On the penultimate day of the week, the DJIA finished dark at zero, although at first it seemed to end in a big lot. The German DAX ended up with a 2.7% drop.

The first day of the fifth day in Europe was marked by growth, even with negative data on the GDP of Germany, France and Italy. The DAX index gained 1% around the first hour after noon.

Very volatile pr euro-dollar

The euro-dollar exchange rate showed well-known volatility during the week, but the result of the swaying development was a slight strengthening of the dollar, which sold at around 1.29 EUR / USD around noon. The reason may be that investors, after further negative effects from the real economy, resort to the dollar as a safe haven.

In the first two days, the Czech koruna on the strip with the common European currency weakened from the border by just a little, gaining 28 EUR / CZK and 28.8 EUR / CZK, where it went out until noon. This confirms the well-known rule that investors in times of recession of the values ​​of me developed a relatively large amount of money. It is only a difficult time when the 29 EUR / CZK limit will be broken. Against the US dollar, the Czech currency weakened for the same reasons and above the limit of 22 USD / CZK.

Slbnouc ern gold

Oil weakened sharply during the week, if we talk about American light oil. At the end of the week, its price was around $ 40 per barrel, on Friday noon the bag was trading at only $ 34 per barrel. The reason was also the renewed growth of oil in the US, but not expected. The Severomosk brent bag weakened by only $ 2 a barrel and sold around $ 44 a barrel at noon. The difference between the two most traded oils thus grew again to $ 10 per barrel. The state of the so-called super contango continues, when it pays to buy oil on the spot market, store it and sell it on the futures market.