After several weeks of declines, the markets initially supported the support of individual economies. Citigroup’s concrete aid, a UK-based aid, a reduction in years of HV tariffs, an aid package proposed by the European Commission and another $ 800 billion from the US Federal Reserve to help households and small businesses.

Last week, euphoria began on the market from the agreed support and essentially protection of Citigroup, a financial giant that has a wide retail clientele not only in the US, but in total not a hundred countries employing more than 350 thousand people. After two days of relentless negotiation, the United States government approved $ 300 billion for Citigroup out of two agreed $ 700 billion support package. The S&P 500 reacted by a sharp 3.6% growth that day, and the British FTSE, for example, added 9.8% in Monday.

Another good first was Monday’s release of the British government’s fiscal relief package, which included, among other things, a reduction in VAT from 17.5 to 15% from 1 December to the end of 2009. The package is worth £ 20bn and should help the British economy falter. However, Germany and France defended themselves against the VAT rate, which dreamed of a strong market to significantly support the largest economies in Europe. According to the US central bank, the Fed has revealed the form of assistance to small businesses, students and homeowners. In particular, $ 800 billion will be set aside for loans in low years at a rate to support declining domestic consumption and to buy back mortgage problems.

Dal na ad: ME a na

On Wednesday, the European Commission joined with a proposal to help the economies of the European Union, a total of 200 billion euros (about 250 billion USD). Immediately, however, there were concerns about whether all member states would support the proposal, when, for example, Germany, as the largest economy, should contribute the most to help the European Union. The Commission has set aside € 21 billion for car manufacturers to produce environmentally friendly cars.

Last week, it also took a drastic step, reducing years of rates in the country during the last ten weeks, this time very aggressively by 1.08% to 5.58%. The government therefore considers the economic situation to be real. for the last year wants to support its full revival of the economy by supporting demand in the amount of 586 billion USD. The growth rate slowed to 9% in the third quarter, reaching the lowest level in more than 5 years. A sharp reduction in rates, not equitable, then boosted the price of oil on world markets. Last week, the price of Brent crude rose by $ 3 to $ 52.75 a barrel. Prices of industrial metals and agricultural crops also rose, while overall commodity prices, named by the Reuters / Jefferies index, rose by about 6%. The price of gold rose from $ 799 an ounce to $ 813 an ounce.

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Stock markets in a sharp plus

Aid measures, for example, have helped convince the world that all current measures will help the world economy and prevent a long and deep recession. According to Dkvzdn, on Thursday, the markets in the USA were characterized by a calm mood.

During the week, the markets did not react more strongly to the poor state of the US housing market. These at first so likely were swept in stock market declines in recent weeks. The number of new houses sold and existing houses will decrease. In addition, house prices continue to fall. In the UK, by contrast, house prices fell, unexpectedly, indicating some stabilization in the housing market and supporting the pound. In the euro area, according to November, the entrepreneur fell in the economy, but the relatively good first is that inflation will fall sharply (from 3.2% in June to 2.1% in November), which gives the ECB room to cut year-on-year rates in five week and by 75 basis points to 2.50%.

The bird’s published data from Japan disappointed, when both households and industrial production and retail sales in June fell more than expected. Here, too, inflation fell sharply in November, with core inflation rising from 2.3% to 1.9%. Concerns about deflation in the US rose last week, and this week there are certainly the same concerns about the city, including the euro area and Japan.

Stock markets ended the week with global growth of more than 11%, the name helped by the MSCI World Index. The Japanese Nikkei index rose 7.6% to 8,512 points, European indices posted more than 10% in a full week during the afternoon, the specific FTSE 100 11.5% to 4,213 points, the German DAX 11.3% to 4,595 point (all data 28 November at 14.15). The Central European region followed the world markets, the stock exchange hit 13.5% to 845 points, the Hungarian stock exchange posted 13.6% to 12,388 points, the Warsaw Stock Exchange posted 9.0% to 1,729 points and the Vdesk stock exchange recorded the most 16 .8% to 1,771 points. US indices thus grew in the first days of trading, ie before the fifth open market. The Dow Jones scored 8.5% to 8,726 points, the S&P 500 11% to 887 points and the Nasdaq 10.7% to 1,532 points

The dollar u kind of tden in ad weakened, only strengthens

Low risk aversion, stock market growth and the emergence of emerging markets pushed the dollar against the euro by 1.7% to EUR / USD 1.2821, while the world’s major currencies weakened by 2.5%. But it is giving way to the Japanese yen, which strengthened it this week, this time by 0.7% to USD / JPY 95.28. The pound was supported in the second week by the published prices of Nationwide houses in November, which were declining at their pace, namely by 0.4%, instead of the expected decline of 1.7%. The pound strengthened against the dollar by 2.7% to GBP / USD 1.536 and to the euro by 1% to EUR / GBP 0.8349. Recently, the Swiss franc has been losing its status as a safe state, mainly due to concerns about the Swiss banking sector, due to the sharp decline in annual rates in the previous week. The Italian franc weakened against the euro for five weeks in a row, losing about 5.3% at its EUR / CHF exchange rate of 1.54 since its peak in mid-June.

Graf EUR/CZK

Poland and Hungary dreamed rates

On Monday, surprisingly, the year of Hungary’s rates fell by 50 basis points to 11.0%, piblin msc pot, which increased rates by 3% to 11.5%. At that time, the central bank of Hungary was forced to raise rates to prevent the house from collapsing. At my last meeting on Monday, however, the central bank published new forecasts, which anticipate a sharp decline in inflation and a recession in the Hungarian economy in 2009. The central bank therefore aims to cut rates to support economic growth.

For the first time since 2006, the Polish National Bank cut rates by 25 basis points to 5.75%. Poland has thus joined the ranks of other central banks, which have been cutting rates for years to reduce bank charges and support the domestic economy. Poland’s economic growth fell to 4.8% in the third quarter, from 5.8% in the second quarter.

Although the attractiveness of annual rates in the Central European region is declining, its risk aversion in the markets has been reflected in the development of markets, including the Czech koruna, the Polish zloty and the Hungarian forint. According to her, the rates in the region are favorable for me in the long run, or even the country of Central Europe will slow down the world economy and will thus need stronger support. The koruna strengthened against the euro by 2.3% to EUR / CZK 25.18, the zloty by 3.0% to EUR / PLN 3.76 and the forint by 2.8% to EUR / HUF 259.0.

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