Overview of the foreign exchange market 09.07.09

 

dynamics of yesterday's auction to FX, apparently determined in the auction sale on the difference in interest rates.

closure of long positions on it, intensified on Wednesday, apparently due to the negative expectations of investors in the upcoming publications of the quarterly corporate reporting in the United States, as well as a large block of American, global macro-economic statistics, which will be released onto the market in the second decade of the month.

main issue that will determine the market situation in the coming months, it seems, is whether the monetary incentive measures used in the global economy in recent quarters, have been effective in terms of their impact on macro-and microeconomic processes.

typical in this regard issued yesterday for a rather cold tone of a joint declaration of G8, in which the Group of Eight countries indicated as some signs of stabilizing the economic situation in the world and the risks remaining at the moment, including - in the world Financial. The world's leading regulatory structure takes, to a certain extent, fence in the area of crisis management. However, according to documents summit G8, intend to undertake further individual and collective actions designed to restore an active, stable and sustained growth of world output and GDP.

Given that the world's largest country, has traditionally demonstrated consistency in its anti-crisis policies, it appears that the analytical structure of Eight expect in the coming months, improvements in the most important statistics that affect the dynamics of prices of investment segment.

However, the information received yesterday, including - to the sector operators on the high-risk assets, was, in general, indeed, quite good.

Index of consumer lending in the United States in May, TG amounted to - $ 3.2 billion against the average forecast of equals - $ 10 billion, and its significance in the previous month, revised from a relatively small decrease, to - to $ 16.5 - $ 15.7 billion previously.

In doing so, the financial performance of all five U.S. companies, published its quarterly figures on Wednesday, were generally more positive than expected by specialists, for example, First Call.

Against this background, as we can see, quotes, EUR /USD opened the bidding on Thursday to mark the growth of near about 1.3830 to 1.3940 on Wednesday evening.

In terms of short-term period, the rate of EUR /USD for reconstruction in the bull trend, obviously, needs to be re-gaining a foothold on the points above 1.4000. However, the medium-term potential of the apparent decline of the currency pair that seems to remain relevant. Countries EMC come in during the active phase of anti-crisis late in relation to the United States, and soft monetary policy, coupled with slow economic growth - not the best option for the formation of the influx of foreign investment into the European market.

 

Overview of the oil market for 08.07.09
Yushchenko: the state budget of 2009 to offset the interest rates on loans to youth shelter
WSJ: Bernanke may be the head of the Federal Reserve at the 2 nd term
Physical meaning
The Earth has gone hand
The next goal is the level of 880 points on the MICEX index, but the market will try to consolidate above 900 points
At 16.00 Moscow time the volume of trades in the market for government securities MICEX was 26.48 billion rubles
Russian financial authorities believe that the restoration of oil and gas prices will slow
Futures on the SP 500 index increased by 0.8%

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