He Ibex and the rest of the European stock markets fall this Thursday. In the case of the Spanish selective it loses positions after having renewed its historical highs this Wednesdaysurpassing 19,400 points. Today it falls 0.5%. The markets react on the one hand, to the signing by the US president, donald trumpand his Iranian counterpart, Masoud Pezeshkianof the memorandum of understanding for peace in the Middle East, and on the other, to the decision on types of the Federal Reserve (Fed) and to the message that its president sent, Kevin Warsh.
Trump signed the memorandum of understanding this Wednesday before a dinner in Versailles, Francewith French President Emmanuel Macron, First Lady Brigitte Macron, Secretary of State Marco Rubio and other prominent personalities, such as the President and CEO of JP Morgan, Jamie Dimon. The Republican had not planned to personally sign the document, but in the last hours he seriously reflected on the convenience of doing so and finally opted for it. Although a few hours before Trump had said he liked the idea of blaming Vice President JD Vanceif the agreement to end the war with Iran did not work. «If it works, I’ll take the credit. If it doesn’t work, I’ll blame JD,» the president joked, after a reporter suggested that Trump was setting up Vance to take the blame by sending the vice president in his place to personally sign the deal with Tehran. It will be necessary to see if the US and Iran can finally reach a definitive agreement and bring closer positions in the 60 day period that have occurred from now on, although experts do not see it at all clear. «This memorandum of understanding is lenient with Iran, which believes itself to be the winner, and again does not seem like a peace, but simply a 20 week armisticewhich ends two days after the midterm elections in the United States,» say Rabobank strategists. Beyond that, the stock markets are also reacting this Thursday to the Fed meeting. The US central bank followed the script and kept interest rates unchanged in the range between 3.50%-3.75% on the first date with Kevin Warsh in front. Of course, the Fed has left the door open to a possible tightening of monetary policy in their ‘dot plot’ or point diagram, and half of the members of the Federal Open Market Committee (FOMC) He sees them as necessary, although Warsh has preferred not to participate in this forecast system and has preferred not to speak out. «Naturally, the prospect of tight monetary policy from the Fed and higher interest rates weighs considerably on risk appetite«comments Ipek Ozkardeskaya, senior analyst at Swissquote, who says that «one may wonder whether this was not a carefully orchestrated maneuver to demonstrate the independence of Kevin Warsh regarding the White House.» «Time will tell,» he adds. And the central banks continue to be protagonists this Thursday. On the one hand we have the meeting of the Bank of England (BoE)which is expected to keep interest rates unchanged at 3.75% amid relatively low inflation data released recently, which suggests inflation pressures in the UK have risen less than feared. But they have also met Norges Bank (Norway) and the Swiss National Bank. In the case of the first, the market expected it to maintain the interest rates unchanged at 4.25%and so it has been, although the central bank has anticipated that it will raise them in future meetings. And it sees a somewhat more restrictive monetary policy as necessary to reduce inflation in a reasonable period of time. In Switzerland too rates have been kept at 0%when the SNB considers that it is the «appropriate» position to maintain inflation «within a range compatible with price stability and favor economic development.» Of course, it has raised its forecasts and now sees an average annual inflation of 0.6% for 2026, 0.6% for 2027 and 0.7% for 2028. Also in Europe, at the macroeconomic level, the UK unemploymentwhich has fallen to 4.9% in April, although salaries have risen more than expected.
OTHER MARKETS
In other markets, the drop in the price of oil. Crude oil fell 2%, so that Brent stood at $78 and West Texas at $75. He goldfor its part, fell more than 1% to $4,308 per ounce. He 10-year US Treasury bond it depreciates at 4.447%. In the foreign exchange market, the EUR/USD It is trading up and is trading at $1.1504. And when it comes to cryptocurrencies, the bitcoin advances to $64,519.
