European markets take profit after decisions in the US and Eurozone
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EUR/CHF
FXstreet.com (Barcelona) - Apart from the Spanish IBEX 35, up by +0.20%, European equity indexes are down on Thursday despite the good news coming from the Eurozone finance minister's council that approved the ECB supervisiory oversight powers over up to 200 eurozone lenders, from 2014, and disbursed the ¬34.4B aid tranche to Greece. Investors are consolidating their positions also after the Fed stance on its monetary policy, coming in as expected: extension of QE3 from $40B to $85B a month, resuming MBS purchases of $40B a month and $45B of Treasury purchases.
The German DAX 30 falls by -0.33%, the French CAC 40 eases by -0.05%, the Italian FTSE MIB loses -0.05% and the British FTSE 100 sheds -0.35%. The Swiss SMI 20 is down by -0.20%.
The SNB kept its policy unchanged, with rates at 0% and defending the EURCHF peg at 1.20, and Chairman Jordan expects the euro area to emerge from recession next year. Also in Switzerland, SECO cut its economic forecast for 2013 to 1.3% from the previously estimated 1.4%, maintaining its outlook of 2012 GDP growth at 1%.The IFO institute revealed its new forecast for Germany growth, expecting a -0.3% contraction in Q4, a +0.2% growth in Q1 2013 and +0.7% in 2013.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling an opening between flat and -0.10%. US Retail sales are expected to come in at +0.3% (MoM): "Retail sales is expected to rebound in November on a headline and core basis, with the strong rebound in motor vehicle sales more than compensating for the falling gasoline sales", wrote Alvin Pontoh, analyst at TD Securities.
The German DAX 30 falls by -0.33%, the French CAC 40 eases by -0.05%, the Italian FTSE MIB loses -0.05% and the British FTSE 100 sheds -0.35%. The Swiss SMI 20 is down by -0.20%.
The SNB kept its policy unchanged, with rates at 0% and defending the EURCHF peg at 1.20, and Chairman Jordan expects the euro area to emerge from recession next year. Also in Switzerland, SECO cut its economic forecast for 2013 to 1.3% from the previously estimated 1.4%, maintaining its outlook of 2012 GDP growth at 1%.The IFO institute revealed its new forecast for Germany growth, expecting a -0.3% contraction in Q4, a +0.2% growth in Q1 2013 and +0.7% in 2013.
Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling an opening between flat and -0.10%. US Retail sales are expected to come in at +0.3% (MoM): "Retail sales is expected to rebound in November on a headline and core basis, with the strong rebound in motor vehicle sales more than compensating for the falling gasoline sales", wrote Alvin Pontoh, analyst at TD Securities.
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