The Ibex and the rest of the European stock markets point to falls this Friday (futures: -1.10%) after a very positive week in which the Spanish selective accumulates increases close to 8%. The index has overcome the resistance located at the highs of April (7,210) and that leaves the doors open to walk towards 7,440 points (last bearish gap) and, above, 8,000 points.
However, this Friday there is an element of pressure that will lead to decreases at the start of the day in the European squares. And it seems that Donald Trump is going to carry out the threats made this week, when he said that at the end of it he was going to make an important announcement about China. A press conference with the President of the United States is expected this afternoon and the markets are nervous about what he can say. Earlier this week, US Secretary of State Mike Pompeo said the country no longer views Hong Kong as a non-self-governing territory of China and that the region would therefore no longer be subject to the trade relationship. favorable that currently exists.
The US House of Representatives also passed a bill earlier this week, authorizing sanctions against senior Chinese officials for human rights abuses against Muslim minorities“So today’s press conference could further increase the stakes,” says Michael Hewson, chief analyst at CMC Markets.
“This abrupt last-minute turn in US-China trade relations simply shows that markets not only see what they want to see and hear what they want to hear, but they also choose when they want to do it,” adds Hewson. This after a week in which the bags have not stopped rising despite the multiple threats on the table.
With this panorama, we reach the end of the week and also the end of the month. Experts stress that, in the last two months, European stock markets They have only managed to reverse a little more than half of the losses since March., while US markets have reversed March losses entirely.
Today’s attention will therefore be on that Trump press conference, while there are other data on the agenda, such as the CPI of the Euro Zone.