The decision adopted today by the Fed on monetary policy is one of the most anticipated in the markets. Both because of its importance (it is assumed that it represents the beginning of a new cycle of decline in the price of the currency) and because of its influence on the decisions of the rest of the central banks and on the vast majority of market assets.
The continuation of the bullish trend of recent days on selective stocks such as the Ibex 35, which continues so far, will depend largely on the realization of the market consensus forecasts and the speech given by Jerome Powell to explain his decision. indomitably optimistic after successfully setting new highs for the year.
“The important thing is not how the week begins but how it ends.“, warns Joan Cabrero, technical analyst and strategist at eco-retailerwho advises against throws the bells into flight on the markets, “especially since this force has been exclusive to the selective Ibex 35 since the Bouquetin Medium Cap is still 6% off its highs of the year and the Bouquetin Small Caps at 8%”.
“The situation is still surprising and calls for caution because if we want to trust in lasting increases, the increase must not be exclusive to the Ibex 35,” he emphasizes, challenging the Spanish index: “At the close next Friday, it will be interesting to see if the Ibex 35 manages to maintain the June highs in the 11,469 points. “Anything less than that would be a clear sign of weakness.”
In Europe, the Fed’s decision will be known with the EuroStoxx 50 one step away from the triple resistance zone of the 4,985/5,000 points“For us to have confidence in the current rebound, the minimum required is that the main European reference manages to beat this zone,” underlines the Ecotrader expert.
And the rebound of the continental index from the supports “does not surprise or excite me given the previous transfer of the 4,790 pointswhich was anything but a sign of strength and which could indicate to us the possibility that after this rebound we will witness a new fall towards at least the 4,670-4,650 points”.
