“Everything you can imagine is real» said Pablo Picasso, cofounder of the cubism with Georges Braque and one of the greatest geniuses of contemporary art whose influence over other painters has been really extraordinary and which is still reaching a lot of current artists. Nobody like him could have better expressed the power of imagination because Picasso transformed reality when painting or sculpting to his own reality, as real as the previous one. The sentence is truly inspirational and heavily used by the motivational courses at companies since decades ago because it projects us to try and reach not only what is difficult but what seems to be impossible. Earlier this morning before starting to prepare this short paper, I was reading an article at elpais.com about the misteries of quantum physics and particle entanglement and to my mind came this saying; probably everything is real and when we imagine it simply becomes present before our eyes. Interesting meditational idea for a free moment. Good morning and have a great weekend.
Out in Asia the markets performed well, building stamina as the hours passed to finish with gains on the four relevant markets (Tokio, Shanghai, Hong Kong & Sidney) Japan’s PCI came worse than expected at -0,5% versus -0,4% forecasted and -0,3% previous but the market ignored it due to a rumour among traders that Japan’s prime minister would suggest in a report that the expected tax hike could be postponed.
EURUSD is pushing down since Europe started trading, coming from close to 1,12 down to 1,1173. USDJPY is oscillating around 109,75 with no clear trend for the time being.
Gold is retracing its steps (-0,20%) to 1221 dolars and silver is slightly positiva at +0,04% at 16,28. Brent is dropping below the 49 dollars mark just for the last 10 minutes, aiming at 49,50 and WTI is at 48,97, dropping 0,65% now..
Socj indices in Europe are sloghtly negative but the downard trend has been transformed into a lateral oscillation during the past 1/2 hour which could potentially drive the markets back highr later on.
WHAT COULD INFLUENCE THE MARKETS TODAY
Data in Europe has shown mixed results with consumer confiedence in France improving but deteriorating in Italy and retail sales in Spain better than expected.
From the US we are wating to get at 14:30 the Q1 GDP and at 16:00 Consumer Sentiment Index from Michigan University.
Lastly, Janet Yellen will give a speech at 19:15 and although no surprises are expected, the reasonably good data from the past days and the comments by her Fed colleagues this week could make her give some slight indication about the next rate hike. Most experts forecast it for next month though.
El Mundo del Trading en los Mercados Financieros 