DIFC Weekly Economic Commentary: April 22 2012
Markets were volatile and choppy. US Shares rallied for most of the week, buoyed by corporate earnings, while Euro zone worries persist in the background, somewhat alleviated by increased IMF funding of $430 bn. Regional markets were mixed, with Saudi’s Tadawul rising the most from a week ago on strong Q1 profits. Euro had a good week, helped by German IFO & ZEW numbers, while the yen fell on speculation of additional stimulus from the BoJ. Oil price was gliding down while gold posted a weekly drop.