As always, investors reacted to the news of the week with conflicting attitudes and leaving as the only certainty constant vigilance.
There has been a return to risk, especially evident by the return in equity investments with a consequent reduction in the spread of the peripheral countries with the Bund.
This week we have gone from the index SMEs in Italy, France and Germany: In Italy a little more salt than expected in France and Germany worsens.
The United Kingdom, one happy island of Europe, however, we have a slowdown of GDP.
Even China by signs of slowdown reporting a quarterly GDP the lowest of the last 6 years.
In U.S. data on applications for unemployment benefits rose unexpectedly.
The news has created volatility in the foreign exchange market and has brought liquidity to the equity markets and that relating to the intention of the ECB to provide liquidity by buying covered bonds.
Simultaneously, however, awaits the results of the stess test banks this weekend.
During the week we have seen a decline in Euro on all currencies, the dollar seems to recover is that the yen the euro, the yen than anything else is weak, perhaps because a slowdown in the Chinese economy is not conducive to the nearby Japanese economy.
