fall of the dollar caused the increase of our index

Neutral positive start to trading on Tuesday was followed by dinner and had the MICEX index adds immodest 2,4%. The impetus for the growth of quotations on the stock and commodity exchanges has been given to the foreign exchange market, which was strong depreciation of the dollar against the euro. In addition to the commodity market, today as leaders in the growth of our banks, led by Sberbank (4.2%) and VTB (4.4%).

There are many arguments in favor of long imminent devaluation of the dollar. Today is the catalyst for breaking the resistance at EUR /USD 1,4360, became positive data from Germany, which showed growth of exports in July to 2,3% m /m and increasing current account surpluses. Its part of the bear sentiment on the dollar and bring the latest UN report, which indicated the advisability of replacing the dollar of the new global currency. This leading international organization offers a radical reform of the global financial system since the Second World War. Euro /dollar exchange has gathered all the stops confidently passing above the 1.44 mark, and now has every chance to get closer to the level of $ 1.4500.

desire to protect their assets from depreciating dollar, led to continued growth in pricesfor gold. Afternoon quotes gold peaked at $ 1,007.5, thus, the path of prices for this precious metal to $ 1100/unts open and free. This brings up a strong movement of gold shares: 3.7% Polyus Gold, Polymetal 3,4%. Along with precious metals, rushed up today as industrial metals (copper 2.1% nickel 4.1%) and oil (Brent $ 68,3; 2,7%). This is a general rise in prices of raw materials inflated quotes our oil, metals and mining companies. Quotes of raw materials and warm high expectations for Friday data on the Chinese economy.

Separately want to say about the banks. Obviously, climb Vneshtorgbank and Sberbank is interesting, especially to our state. The logic is simple: if there is a rise of VTB quotations above the SPO (about 5 cop.) In order to change the eyes of investors relating to these securities, unlike how it was for an IPO. Permanent shares climb Sberbank is clearly not market-driven and just displays quotes at higher price levels. It is necessary for successful SPO Savings Bank this fall. The fact that under the SPO Sberbank going to attract not only gosdengi, but the money of western and private investors, but given the cheap shares of the largest bank in the country no one wants. Moreover, Sberbank only now reached the half of its pre-crisis capitalization, although the concern Gazprom has long been half its previous value.

European investors this afternoon, took time out, deciding to await the resumption of trading in the States. In the second half of the day does not leave any vital statistics. I think our stock market indices at current levels will be included in the zone evening volatility.

The most important event this week, to which Russia's market will be sensitive, will be meeting OPEC
Better the market has traded banking sector, the worse the market - Uralsvyazinform, Rostelecom, and MTS
A fundamental review of the Forex market on 08/09/2009
Prices EUR /USD consolidates in a narrow range, limited levels of 1.4330 - 1.4360
Today analysts' forecasts for the pair EUR /USD - up for auction in Rendžov: 1.4370-1.4520
Ukraine has declined in competitiveness ranking
Analytics - the outcome of the day

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