Dynamics
On Thursday, Jan. 21 quotes for gold and silver have completed trades with a decrease in value against the background of strengthening U.S. dollar on the foreign exchange market, FOREX, and also because of the negative dynamics of equity markets and adjacent areas.

As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures dropped to 9.40 to U.S. $ 1103.20 per troy ounce, quotes, silver futures f1000ell 37 cents to 17.51 dollars per ounce.

Causes
On Thursday 21 January futures on precious metals have completed trades with a decrease in price under the following factors: 1 - strengthening of the dollar in the FOREX market to the weakening of the tendency of investors to take risks after makrostatistiki and economic news (concerns about the financial situation in the euro area and the tightening of monetary policy in China), 2 - the fall of the stock sites, where the major U.S. stock indices closed in the red zone after disappointing quarterly results and economic news (Dow Jones industrial average - 10389.88 (-213.27, or -2.01%), Nasdaq Composite - 2265.70 (-25.55, or -1.12%), SP 500 - 1116.48 (-21.56, or -1.89%)), 3 - negative dynamics of the neighboring markets, namely the drop in oil prices, 4 -- technical reasons, namely, that there were holes in the strong resistance levels (U.S. $ 1110.00 per troy ounce), resulting in protective orders have worked, 5 - economic news - a proposal the administration of U.S. President Barack Abamy limit the size of banks, many of which are trade commodities contributed to the decline in prices for precious metals. Obama made a proposal to limit the size of financial institutions and prohibit commercial banks from engaging in certain types of investment activities, including the acquisition of hedge funds and trade securities for its own account. Click to continue »

If the medium is the current week ago the dollar was self-evident, no one hurt us call this last week the yen, as the charts with this particular currency today can boast of a strong movement towards the strengthening of this.

But back to the beginning of the day when European currencies continued to fall under its own momentum against the dollar, not feeling any support from the PMI index for the euro area and Germany, or even from the figures the ECB"s monthly report for January. Fortune turned the European session for those skilled traders who have put against the pound - against the background of the publication of data to reduce the amount of the monetary aggregate M4 and growth of the state budget deficit (the amount of borrowed funds of the state) to 15.7 billion pounds of "British" literally rolled up to the deplorable level of 1.6123, after Why did not rise above 1.6240. Simultaneously, the euro dropped to 1.4028, and the franc weakened to 1.0494.

On the other hand, the frustration can understand wanting to find the chart USD /CAD reaction to the news about the beginning of the process of buying Canadian dollars to the Central Bank - the market largely ignored this fact.

But back to strategic partners. Already during the American trading session, Barack Hussein Obama in his speech touched on future plans to increase regulation of the monetary sphere in the United States, in particular, these measures are intended to limit the activity of commercial banking institutions in the conduct of operations with more risky assets. Click to continue »

Dynamics
Quotes of the oil market Tuesday, January 19 on the basis of trading closed with the increase in value against positive dynamics of equity markets and adjacent areas, but also because of technical reasons.

At the New York Stock Exchange NYMEH the February futures price of U.S. light crude rose by 1.02, or 1.3%, and its price was 79.02 dollars per barrel.

Causes
Tuesday, January 19 quotes on the market of "black gold" were closed with an increase in price by the following factors: 1 - Strengthening the stock sites, where U.S. stocks rose, restoring the loss last week, as the equities of the health sector sharply increased (after the declarations of the Republicans is that they block the revision of this industry, if you win elections in the U.S. Senate), while technology companies have grown in relation to the optimistic expectations of earnings (Dow Jones industrial average - 10725.43 (115.78, or 1.09%) Nasdaq Composite - 2320.40 (32.41, or 1.42%), SP 500 - 1150.23 (14.20, or 1.25%)), 2 - positive dynamics of the neighboring markets, namely the strengthening of prices for precious metals and 3 - the technical reasons - the price of oil fell to 1.6% to 76.76 dollars per barrel, its lowest level since December 23, with the attainment of this minimum has provided an ideal opportunity to purchase for some investors, while traders covered short positions, re-buying previously sold contracts, and prices market grew. Click to continue »

Deferred due to come on Monday the day off growth in the U.S. market did not receive support in Asia, where due to restrictions on lending imposed by the Government of China, continued to decline.

opened after a long weekend of the U.S. stock market has demonstrated advanced dynamics, playing increased speculative interest in risky assets at the beginning of the week. The Dow rose 1.09% to 10,725.43 subsection, SP - on 1,25% to 1,150.23 p. One of the most powerful factors supporting the market were the prospects of receiving additional Republicans to vote in elections in Massachusetts, which can destroy Obama plans to reform the health system. As a consequence, in the pharmaceutical sector began to rally. Report Citigroup, reported the loss of $ 7.6 billion in the fourth quarter, coinciding with market expectations and suspended the sale of shares of the financial sector. Also it is necessary to provide a good momentum in the technology sector, which after the release of positive statistics Intel, investors have high expectations. Click to continue »

Dynamics
U.S. dollar on Monday, January 18 haggled with a slight decrease across the spectrum of the currency market FOREX. When the pair EUR /USD closed at around 1.4381, the pair GBP /USD rose to 1.6338, and the pair USD /CHF closed around 1.0251. Japanese yen showed multidirectional movements against other currencies. When the pair USD /JPY closed at around 90.77, and the pair EUR /JPY stood at 130.52. Commodity currencies were closed with an increase against the U.S. dollar. Thus, the pair AUD /USD stood at 0.9266, the pair NZD /USD closed around 0.7388 marks, and the pair USD /CAD at 1.0266.

Causes
On Monday, January 18 euro remained in the weekly low against the dollar in relation to the conservation concerns about the economic situation in EU countries such as Greece and Portugal on the eve of a meeting of finance ministers of 16 countries the euro area in Brussels. Pound had reached a four-month high against the euro and significantly strengthened its positions against the U.S. dollar after the publication of the report, recorded in January rise in house prices in the UK. Average asking price for housing in England and Wales, according to Rightmove Plc, Britain"s largest real estate portal, has increased this month by 0.4% m /m, as compared to the same period last year increased by 4.1%. Click to continue »

On the U.S. stock market continues corporate reporting season. This week will report Citi (19/01), BoNY, BoA, IBM, Conoco, Wells Fargo, Morgan Stanley (20/01). Participants hope that the U.S. economy remains on the road to recovery, albeit weak.

second business week of the new year for the index ended the week SP500 black candle, however, should be noticed that, despite the relatively high turnover on Friday and an index, a key support level at 1130 n. ~ still resisted. Profit participants at the end of the week was generally expected, considering the progress to this maximum in the 1150 Section and issued a mixed report, JPM (even though revenues declined, but profit was higher). Nevertheless, we believe that the US-market shares remain the prerequisites for the continuation of positive dynamics, and the past profit-taking as we do appreciate the technical movement. VIX volatility index still remains at the lowest comfortable level. Substantive support to the market shares is a factor of excess liquidity and cheap. Click to continue »

Late last week working on forex was marked by further strengthening of the currency of refuge against the general decline of interest in risky assets. The fall of stock indices and mediocre macroeconomic statistics, on Friday provoked the withdrawal of players in a "safe" dollars and yen.

For example, in early European session, investors are once again reminded about China and a possible further tightening of monetary policy in China. In particular, on Friday, the People"s Bank of China promulgated the final data on the volume of loans for 2009 According to the information in the past 12 months, China had issued 9.6 trillion. yuan ($ 1.4 trillion.) of new loans, almost double the figure in 2008 Annual growth rate of M2 reached 27.7%. This rapid growth of credit (and other indicators), will probably force the monetary authorities in China to think about the possible risks associated with an increase in liquidity. In this regard, many market participants believe it is likely that after the decision to raise from this Monday a mandatory level of reserves in yuan for commercial banks by 50 basis points, the Chinese Central Bank may agree to new measures to tighten monetary policy. In turn, the removal of money from the economy could "stalled one"s" increase business activity in China.

A block of macroeconomic statistics come out on Friday in the United States. Click to continue »

C Dec. 31, U.S. and European stock indexes rose noticeably (SP 2%, DJIA 1.8%, Nasdaq 2.1%, FTSE 2.2%, DAX 1.3%), while weekly increase SP 500 was a record for the last 2 months. This is due to positive data on industrial activity in the U.S. (the December ISM Manufacturing peaked in April 2006) and retail sales (according to Retail Metrics, sales in the open less than a year ago, American stores increased in December by 3% with the expected decline of 1% ). Meanwhile, data on the labor market were mixed. If a preliminary report on the reduction of ADP jobs in the private sector in December and weekly applications for unemployment benefits were generally better than expected, the most significant record of the Labor Ministry, published on Friday, had to disappoint those who hoped for a speedy recovery and the labor market in the U.S. . He captures the unexpected loss of employment (-85 thousand zero change, the anticipated market) and the persistence of unemployment at 10% only because of "retouching" in the method of calculation (in December, the labor force decreased by 661 thousand people. At the expense of the former unemployed who desperately to find a job, and the calculations of experts, without the influence of this factor, unemployment would rise last month from 10.1% to 10.4%). The level of "underuse" of labor resources, which many see as a more complete measure of unemployment exceeds 17% and continues to grow, and the average duration of job search (29.1 week) reached a record since the beginning of settlement in 1948

Weak data on the labor market have not prevented American indexes opened lower on Friday, turn up and complete the trading day in positive territory. After all, they have increased expectations of maintaining extremely low interest rates, at least, in 1P10, and even before the end of the year. Click to continue »

USD

And we warned you that trading in the levels of employment - a thankless task, because even in the presence of leading indicators, speaking about the restoration of the labor market, you can always get a nasty surprise. And the number of scenarios is so great that all of their list would be quite difficult. So, according to government figures, in December, U.S. employers cut jobs by 85 thousand, which cooled the optimism of market players about the state"s largest economy in the world. Although the Ministry of Labor has revised the November figure to rise to 4 th against the provisional assessment of -11 thousand, subject to review of that recorded in October, in the end it turned out that two months the economy has lost at 1 thousand more jobs than estimated earlier. The rate of unemployment remained stable, amounting to 10%. Needless to say, has something to upset, even though there was a time when and the level of -85 000 for a mere admiration. Nevertheless, despite this disappointment, sales of the dollar were not quite so high, after a while even buck back almost all lost, but the economic indicators still won and finished the trading week USD weaker against its opponents.

U.S. has acted in a worst-case scenario presented by us, but Friday dynamics has its pluses - we realized that currency at the moment still move under the influence of fundamental factors, rather than the demand for risky assets. Rather weak performance prompted the players to realize that one should not expect from Fedrezerva any steps toward monetary tightening (and in fact representatives of the Federal Reserve warned us about this early last week) in the near future. Thus, the dollar is seriously shaken, and now any unpleasant surprise on the part of key economic indicators could cause a wave of sales of currency.

This week brings reports on the trade balance, the economic situation of the region (Beige Book), retail sales and consumer prices. Of all listed the most interesting data on the retail sector as an indicator of consumer spending. If you focus on the recent reports ICSC and Redbook on sales in the networks of stores, then we can expect pleasant surprises. And it certainly will support the dollar. Also, pay attention to the tone of many statements of official representatives of the Federal Reserve, scheduled for this week. The first one we get tonight.

EUR

Despite all the prerequisites for the strengthening of the euro (weak U.S. data and strong national), the currency was unable to derive full benefits from the situation only slightly strengthened against bucks. Couple kept in narrow ranges for a long time, which gives us reason to expect a quick breakthrough in one direction or another. So far, the economic data paint a fairly positive picture.

volume of exports from Germany in November, exceeding analysts" expectations, as the revival of world trade has provided an additional demand for German goods. Sales abroad, adjusted for employment and seasonal variations, rose in November at 1.6% compared with October, when the growth amounted to 1,9%. Click to continue »

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. Click to continue »