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Ibex: the 'quadruple witch hour' will mark the end of a quiet week


The expiration of options and futures on both sides of the Atlantic, known as 'quadruple witch hour', will mark the end of a week that has been quiet and in which the most notable was the sharp rise on Tuesday, with the excuse of the latest actions of the Federal Reserve (Fed)as well as the nerves and caution that have persisted fearing that Covid-19 case flares (especially in the US and China) will increase. The Bank of England has also focused attention. Finally, this Thursday he raised his stimuli to a total of £ 745 billion. All in all, the expiration of futures could increase volatility in the indices today.

This Friday will be a quiet day in terms of appointments on the agenda, in which the speeches of several Fed members, including the president, stand out. Jerome Powell. However, after his appearances these days in the Senate and the US Congress, he is not expected to have many news to announce.

Across the Atlantic, Democrats in the House of Representatives presented a $ 1.5 trillion infrastructure plan last night. The Speaker of the House of Representatives, Nancy Pelosi, presented the bill called "Moving Forward Act" at a press conference, explaining that it would build the infrastructure "in a green and resilient way." Experts point out that this issue of the infrastructure plan in the US, which would revive the economy and for which Donald Trump has been advocating for years, will continue to be in the short term.

For the rest, the employment data released on Thursday in the US continues to show weakness, but there are some small positive aspects, says David Madden, an expert at CMC Markets in London. Still, he adds that "it is worrying that only a small percentage of people have returned to the labor market".

As for oil, it rose last night and continues to advance this Friday (Brent barrel: $ 41.90; WT barrel: $ 39.20). OPEC's technical committee did not make any additional recommendations last day to implement more production cuts, focusing on members who have not adhered to the current agreement and do not meet their offer reduction and noting that any nation that fails to comply will have to make up for it between now and September.

Finally, regarding the technical aspect of the Ibex, Bolsamanía experts recall that has its first resistance level at 7,663 points. This Friday starts from 7,390 points after leaving 1.2% in the last session. In the accumulated of the last four days, the Ibex rises a little more than 1%.

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