The U.S. currency during the trading day Tuesday was able to strengthen against the major competitors in the forex because of a fading interest in risky assets by investors. The negative dynamics of equity markets and not the most optimistic statements of the Bank of Canada on the outcome of his meeting did not allow a single European currency to take a new high this year. Players waiting on the Canadian Central Bank hints at the imminent rise in interest rates, by analogy with the Reserve Bank of Australia, were unpleasantly surprised when at the last meeting of the monetary authorities of Canada have made it clear that the key rate for a long time will remain at the current ultra-low level (0, 25%), and further strengthening the national currency could completely reduce the at no all the positive macroeconomic trends within the country. As a demonstration of such risks regulator lowered the forecast on economic growth and inflation for the current year. After such a significant verbal intervention yesterday, the Canadian dollar lost almost 2.5% against the U.S. currency.
On the lack of interest in further strengthening of its currency say more and representatives of the euro area. Proactive interventions resort, many developing countries, including Russia, South Korea, Malaysia, etc. And only the U.S. has not expressed much concern a failing dollar, which supports U.S. exporters and, consequently, a favorable effect on the balance of payments of the country.
The strengthening U.S. currency yesterday facilitated the publication of weak statistic data. Thus, the index of producer prices in the U.S. fell last month by 0,6% compared with August. Economists had expected a positive monthly increase. Most negative in the fall in wholesale prices made a component of energy, which cost in September fell by 2.4%. In annual terms, producer prices fell by almost 5%.
disappointed and statistics on the housing market. In particular, the launches of new homes in the U.S. rose in September, but less significantly than I expected the consensus forecast. According to the U.S. Commerce Department, last month the number of bookmarks (taking into account the seasonal factor) increased by 0,5%, reaching a level of 590 000 houses per year. And if we compare the September values to the same period last year, the decline of 28,2%. Another negative signal to the fall in the number of building permits in September at 1.2%. All this testifies to the continuing problems in the U.S. residential real estate.
Just today expect fairly quiet trading on the major currency pairs within the previously formed bands. Thus, the euro, according to ourforecasts, will be traded in the corridor 1,4842-1,4990 dollar.
Quotes of the majority of the most liquid shares on the MICEX decline, many blue chips up against a strong resistance levels
Most interesting are now undervalued securities of the electricity and telecommunications sectors
Stocks Rostelecom affirmed the right of buy on expectations, sell on fact
Thereafter the market Russia can expect new attempts to take a more aggressive downward correction
First correction lacks meaningful information occasion
Between a strong bottom-up approach today's session is not expected to play a fall is a great risk
Review of the FOREX market for 20.10.09
Indices of the Old World have demonstrated extremely volatile trading session
Denmark allowed the construction of the Nord Stream pipeline on its territory