Markets can not sit quietly, and if there is no economic events, they come up with something than to create a movement. And there is also an excellent occasion to appear - week reporting U.S. banks. Shares started to rise after analyst Meredith Whitney, the founder of Meredith Whitney Advisory Group LLC, recommended investors buy shares of Goldman Sachs (which has not done since January 2008). So, today published a report the company will certainly attract attention. Given that the markets so laid in the price of a decent growth in profits, even a slight disappointment is able to cause an explosion in demand for the dollar.
With regard to economic reports, you have nothing to boast of America. As expected, in June the state budget deficit in the United States reached a record for the month values - $ 94.3 billion surplus to $ 33.5 billion in June last year. However, an absolute record in February 2009 (- $ 194 billion), fortunately, have not been beaten. The reason for this dynamic was the active pursuit of government support programs and to stimulate the economy and financial system. Thus, the costs associated with a plan to deal with problem assets (TARP), for the reporting month amounted to $ 11.3 billion, the financial incentives in the real estate sector and other benefits designed to restore the economy, cost the authority $ 25.1 billion In addition, the Government has committed purchases securities to cover the mortgage on the $ 5.4 billion
Beyond expectations releases reports profits, traders should pay attention to the volume of retail sales in the United States. These indicators are not only important because consumer spending accounted for over 70% of GDP, but also because they will be able to demonstrate how the program works to promote Obama. If the population has so far refrained from shopping and prefer to save, it could seriously undermine confidence in the bright future and the possibility of a new president. This probability remains, given the recent Ñлабоватые sales ICSC, reflecting a fall on the 5.1% y /y.
EUR
On Monday, the euro still managed to initiate strengthening, all at the same spate of appetites for risk, because of economic developments on the European front, we have not seen. The only event yesterday was a statement made by the head the ECB. And he was set up fairly optimistic. In his view, the rate of decline in economic activity in the euro area is likely to slow until the end of this year, and by mid-next year will be active in a positive zone. The head of the ECB noted that the dynamics of consumer prices in June was in the negative zone mainly due to an earlier drop in oil prices. Therefore, this positive development, which will support the real income of households' - Trichet stressed. The main finding in the whole positive.
Today, we have to find positive data on the ZEW economic expectations and in terms of production volume. If the figures are at least coincide with predictions, it can already support the common currency, which will remain in demand until the U.S. session until we get news from the American corporate sector.
GBP
pound behaved similar to the euro, although in his case, the first economic reports came out just this morning. The June survey of State Institute of Certified appraisers (RICS) showed further stabilization of the situation in the real estate sector - largely thanks to the record to mitigate the effects of monetary policy the Central Bank and the government programs of financial incentives. Moreover, the reduction of stocks offered for sale provided a modest increase in housing prices. In addition, according to British retailers Consortium (BRC), wasting heat in June and the basic effects of cold weather, recorded last year, resulted in the growth rate of retail sales. Weather conditions have stimulated the buyers in such sectors as clothing, shoes and other goods intended for use outdoors, including gardening, swimming pools and supplies for a picnic.
Today attract attention to a report on consumer price index, which may reflect the weakening of price pressures in June. In fact, the forecast said a reduction in the annual rate to 1.8% y /y, which is within the target range of the Bank of England. However, if the drop will be more powerful, it can cause a sharp weakening of the pound on expectations of quantitative expansion of the program to mitigate the Bank of England.
Commotion on the topic of Goldman Sachs
USD
Markets can not sit quietly, and if there is no economic events, they come up with something than to create a movement. And there is also an excellent occasion to appear - week reporting U.S. banks. Shares started to rise after analyst Meredith Whitney, the founder of Meredith Whitney Advisory Group LLC, recommended investors buy shares of Goldman Sachs (which has not done since January 2008). So, today published a report the company will certainly attract attention. Given that the markets so laid in the price of a decent growth in profits, even a slight disappointment is able to cause an explosion in demand for the dollar.
With regard to economic reports, you have nothing to boast of America. As expected, in June the state budget deficit in the United States reached a record for the month values - $ 94.3 billion surplus to $ 33.5 billion in June last year. However, an absolute record in February 2009 (- $ 194 billion), fortunately, have not been beaten. The reason for this dynamic was the active pursuit of government support programs and to stimulate the economy and financial system. Thus, the costs associated with a plan to deal with problem assets (TARP), for the reporting month amounted to $ 11.3 billion, the financial incentives in the real estate sector and other benefits designed to restore the economy, cost the authority $ 25.1 billion In addition, the Government has committed purchases securities to cover the mortgage on the $ 5.4 billion
Beyond expectations releases reports profits, traders should pay attention to the volume of retail sales in the United States. These indicators are not only important because consumer spending accounted for over 70% of GDP, but also because they will be able to demonstrate how the program works to promote Obama. If the population has so far refrained from shopping and prefer to save, it could seriously undermine confidence in the bright future and the possibility of a new president. This probability remains, given the recent Ñлабоватые sales ICSC, reflecting a fall on the 5.1% y /y.
EUR
On Monday, the euro still managed to initiate strengthening, all at the same spate of appetites for risk, because of economic developments on the European front, we have not seen. The only event yesterday was a statement made by the head the ECB. And he was set up fairly optimistic. In his view, the rate of decline in economic activity in the euro area is likely to slow until the end of this year, and by mid-next year will be active in a positive zone. The head of the ECB noted that the dynamics of consumer prices in June was in the negative zone mainly due to an earlier drop in oil prices. Therefore, this positive development, which will support the real income of households' - Trichet stressed. The main finding in the whole positive.
Today, we have to find positive data on the ZEW economic expectations and in terms of production volume. If the figures are at least coincide with predictions, it can already support the common currency, which will remain in demand until the U.S. session until we get news from the American corporate sector.
GBP
pound behaved similar to the euro, although in his case, the first economic reports came out just this morning. The June survey of State Institute of Certified appraisers (RICS) showed further stabilization of the situation in the real estate sector - largely thanks to the record to mitigate the effects of monetary policy the Central Bank and the government programs of financial incentives. Moreover, the reduction of stocks offered for sale provided a modest increase in housing prices. In addition, according to British retailers Consortium (BRC), wasting heat in June and the basic effects of cold weather, recorded last year, resulted in the growth rate of retail sales. Weather conditions have stimulated the buyers in such sectors as clothing, shoes and other goods intended for use outdoors, including gardening, swimming pools and supplies for a picnic.
Today attract attention to a report on consumer price index, which may reflect the weakening of price pressures in June. In fact, the forecast said a reduction in the annual rate to 1.8% y /y, which is within the target range of the Bank of England. However, if the drop will be more powerful, it can cause a sharp weakening of the pound on expectations of quantitative expansion of the program to mitigate the Bank of England.
The index of second-tier RTS-2 in the last week declined to 5.68%, while the RTS index lost more than 9,5%
The growth potential of Gazprom and GMK Norilsk Nickel is about 11% -12% from yesterday's closing
Trading on Russian stock market on Tuesday is marked by good growth in the major indices
Recommendations for futures on RTS index
This week, the Russian market is not just going to go through tests of macroeconomic data
The main support for the futures on the RTS index is located in the vicinity of 79 500-80 000 points
Singapore has emerged from the crisis
WB: The volume of remittances from migrant workers to decline by 7-10% in 2009
Kommersant: Savik Shuster broke relations with its production studios