Today the trusted Zew indicator of the German 'business community' and retail sales in America are released. Both data are expected to be good, and yesterday's cautious but firm market closes triggered a firm open in Asia.
The regional index grew by more than 1% and it may well be that, after the interruption of last week, the positive trend will resume which led the market, with 20% and more compared to the lows of October, to satisfy the technical requirement of the 'bull' trend.
Among the sectors, it is the financial companies that have grown the most. And this is no wonder: with funding rates close to zero, both in Europe and in America, given the generosity of central banks, it would take a foolish banker not to take advantage of the opportunity to obtain supplies at low prices and employ money at higher rates.
The euro is stuck between 1.31 and 1.32, and currencies that are litmus tests of risk-taking, such as the antipoidal dollars (Australian and New Zealand) have strengthened.
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