key will Yellen
Yellen This week, the bags will still find some obstacles that prevent clear progress, as the flow of business on both sides of the Atlantic and a macro data results will not be bright at all: GDP growth in the euro area could slow down from +1, 6% to + 1.5% y / y retail sales in the US will show a minimum growth that does not correspond to a time of low unemployment and low inflation.
Moreover, oil prices continue to be a factor of volatility for stocks before a definitive stabilization occurs in the vicinity of $ 30. In this context, the factors supporting the market you can find limited to central banks. Janet Yellen will hold its semi-annual appearance before Congress and the Senate, in which he will be forced to launch a clearly dovish message. Lower productivity, loose payrolls data on Friday and market volatility are arguments for Yellen claims that financial conditions have deteriorated significantly, which would have a positive impact on Wall Street by suggesting that the Fed is not going to raise interest rates in March (and maybe even for the rest of 2016).
key will Yellen
In the area of emerging markets, stock markets will be closed in China for the celebration of the lunar new year. Finally, it should be noted that the main indexes pared their decline at levels above the previous year lows (S & P500 at 1,880 points compared to 1,860 in January, Ibex-35 at 8,314 points compared to 8,281 in January). Although the absence of immediate catalysts persists, these ascending lows suggest that the market finds support in these brackets because the cycle is still expanding but has lost vigor and valuations would be sufficiently attractive for the market to consolidate levels.