Oil prices spent a technical rebound from support script ascending trend - to local maxima is not so much
By admin at 31 July, 2009, 3:14 pm
Europe
Old World Index grew by an average of 2.2%. The main reason for optimism was the better than projected financial statements of major companies. Plus add fairly high prices, which dragged in the positive zone of action of relevant sectors of the economy.
America
indexes the New World increased by 0,8-1,2%, in response to corporate accounting of American corporations. It is not clear why the players ignored the negative macroeconomic statistics data in the face of applications for unemployment benefits. The official version refers to the manipulation of data revisions and exaggerates the importance of post-secondary applications. With regard to reporting, it should call a spade a spade, reporting the bad, but better than analysts' forecasts, so that fact and the mass market responds. Investors expect that the profits of companies very quickly and simply recover from that stock markets do not reflect the entire depth of the recession. I believe that now must wait until the accounts for the third quarter, which will show how the reality will conform to expectations (as autumn comes again, will understand what is happening with lending and real sector).
raw materials, currency, etc.
Industrial metals at auction in London, grew up, the price of gold back to $ 940, while the U.S. dollar dropped in price on a basket of currencies.
Oil prices spent a technical rebound from the script support the rising trend - to local maxima is not so much. Fundamental factors, such as the widespread growth of commercial and strategic stocks, persistently ignored by speculators. Futures oil brand Brent traded around $ 70.5, oil futures mark WTI traded slightly above $ 67.5 (September contracts at 9-30 Moscow time).
Statistics and Reporting
Today, 13-00 (Moscow time) published data on unemployment and consumer price index for the euro area, in the 16-30 (Moscow time) went on the U.S. GDP, at 17-45 (Moscow time) is published index of business activity for the United States. From the corporate sector are the Audi, British Airways, Chevron, Deutsche Post, Total, Anglo American and Mitsubishi (the whole financial and industrial group at once). In general, the reporting season is declining, and next week promises to be more calm.
Asian markets up today, the reasons lie in the growth of good reporting companies in the region and expensive raw materials
And waited!
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Forex - Asia
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