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Sunday, March 26, 2017

Technical Analysis charts - European Banks - But the old order of things into question..-

Market comment

This certainly was not a good week for European banks .. The Stoxx Europe 600 Banks showed an inability to move to higher levels and escape another rotation around the short term support levels, recording losses Friday - 0.39% to 177 , 10 m. The ECB earlier days presented a guidance document on the measures, procedures and best practices that should be followed by banks as a priority in the treatment of non-performing loans, highlighting once again the importance of the problem ..

The problems in European banking groups still remain, with a special emphasis gravitational be given to German banks and particularly the Deutsche Bank AG, which once again is under investigation of the US Department of Justice regarding operations in the FOREX market.

The Italian banks are still a concern because after the Monte dei Paschi two more banks seem reportedly to seek government bailout to cover their deficit at the same time the ECB published its opinion on Italy's participation in various programs of the International IMF: extension of the implementation of the general arrangements to Borrow, contribution to the fund for poverty reduction and development and new bilateral borrowing agreement.

A reflection outbreak remains uncertainty about the Greek banks which already face pressures that are reflected in the increase in ELA. The Governing Council of the ECB has accepted a request from the Bank of Greece , "taking into account the private sector deposits Flows" for a further increase in the maximum loan limit from the ELA 400 million. Euro, bringing the amount of 46.6 billion. Euro

A general unstable international environment shaped by  Peter Praet , Member of the Executive Board of the ECB in an interview to state characteristics .. But the old order of things into question. At worst, there is a risk that the strength and size will be important above all. In such a system the great powers, the US, Russia and China will dominate. The voices of the smaller countries will lose their importance if acting alone. And let's face it, even the largest European countries fall into this category, if left to their own devices.

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