The futures contracts on Wall Street indicate price increases of up to 0.5% in the leading indexes in view of less fears regarding the departure of Britain from the European Union, and by the testimony of the Federal Reserve Governor Janet Yellen the US Congress.

The German economic confidence rose

The German economic confidence index unexpectedly jumped in June, which strengthens the optimism about Europe’s biggest economy.
Security Index research institute ZEW jumped to 19.2 points this month, compared with a level of 6.4 points in May, and far beyond the predictions that it will come to 5.1.
It was the sharpest increase in the past ten months.

The trigger that sparked the euphoria in the markets yesterday was due to a published surveys in the UK over the weekend about a majority who support remaining in the EU.
However, market analysts are warning that the markets have become too sensitive to any news related to the referendum in the UK.
If other polls today or tomorrow will publish and will vote on a renewed strengthening in supporting the exit from the union, the markets may react by sharp declines.

A positive opening of the trading day in Wall Street is expected accordance with the trend in World.

The English pound rises by 2.1% against the US dollar, the highest rate of increase since 2008.

The trading on Europe starts gallop!

The German Dax index rising by 3%, the CAC rising by 2.8% and the FTSE gained 2.4%.

WTI oil rising by 1.5% and traded at a price level of 48.7 dollars per barrel.

The international markets will be waiting this week for the decision of the British people in a referendum on Thursday, May 23, whether to go out of the Euro zone or not.
The referendum will be on 22: 00 UK time and the polls will inject the results throughout the night, so the immediate reaction for the financial markets will come on Friday.

The price of the oil jumped on Friday at 3.8% and was set at the price level of 47.98 dollars per barrel.
This increase came after six consecutive days of declines as when the black gold fell from 51.67 dollar per barrel high to a low level of 45.84, which means a steady decline of up to 11% in six days.
The increase in oil prices came after the markets calmed down from the possible effect of the exit of Britain from the European Union which could hurt the global economic growth and the demand for energy.

The price of Apple’s stock fell on Friday by 2.3%, the sharpest daily decline for the past five weeks, after China’s regulators ruled that Apple’s models of iPhone 6 and iPhone 6 Plus are infringe patent rights of a Chinese smart phone manufacturer.
The ruling may stop sales of the iPhone devices in China.

 

Sign of recovery in Greece!

Greece will cancel the limit cash withdrawals towards the end of the year.

The limitations include a ceiling on the amount that you can withdraw cash from the banks of 420 euros per week.
They were imposed last June following the flight of deposits that threatened to destroy the Greek banking system during the government bailout talks with her creditors.