We expected a big reaction to two key events, and we get it. U.S. still managed to win back its position against major rivals (except for the yen), which, as we assumed all was all the same flight from risky positions. U.S. employers in June declined jobs at 467 thousand, the rate of b /d increase, and hourly earnings have not changed. This is an indication that the incentive measures taken by the Obama administration, the labor market have very little support. The magnitude of reduction in jobs outside the agricultural sector exceededthe forecasts of analysts and followed a decline in May at 322 thousand Bid Unemployment jumped up to 9.5%, which was the maximum value from August 1983 the first year. Of course, the rate of close to -500 thousand most likely represents a sharp correction after the very positive results of the previous month, but it is becoming clear that more needed to be address in order to stabilize the economy. And while investors do not receive a portion of the positive, the dollar may continue to strengthen. Small doses of sedatives were received yesterday.
A separate weekly report showed that the number of laid-off workers, who first applied for benefits b /d, fell twice more than expected last week. Number of employees who already receive benefits is not the first week, also fell, as it assumes a recovery is still problematic in the labor market. Same volume of orders received in May by American factories rose for the third time over the past four months, thanks to higher demand for airplanes, computers and industrial equipment.
orders increased by 1.2%, highest since June 2008, following a revised growth at 0.5% in April, which was less than the preliminary assessment.
Today, American markets closed for Independence Day. And surprisingly, that over the past ten years in this day volatility on the dollar pairs remained very low. So the most likely pair to be locked in narrow ranges, perevarivaya yesterday's movements and preparing for next week.
EUR
Yesterday euro came under fire. Meeting the ECB, as expected, did not bring any surprises, but the U.S. data led traders to give preference to currency of refuge. Trichet's Speech, it was so sweet and did not contain any zatsepok to strengthen the single currency. ECB head Jean-Claude Trichet made it clear that the ECB at the moment no plans to lower the bid, and said that the economy in the euro zone will begin to recover in mid-2010. Economic activity is likely to be low, but the decline would not be so strong as in the 1 quarter, - the head of the ECB. And over the last week of the refinancing transactions Trichet said that it should strengthen the position of banks and to support the normalization of money markets.
In addition, we also received a series of unfavorable data. As expected, the rate of unemployment in the euro zone rose to mark the 10-year peak of 9.5%. Figures of the previous months were subjected to minor revision. In May, the work lost about 273 thousand citizens (as against 399 thousand in April, and 423 thousand in March), which led to the total number of unemployed amounted to 15 million, to 3.4 million higher than the previous year . Producer prices in May fell by 0.2%, as lower prices for intermediate goods offset the increase in energy prices. Most analysts expect that prices will remain unchanged, but were uncertain about whether, in which direction the price will change if this does happen. Thus, deflation is still looming on the horizon, but the ECB continues to proudly remain silent, suggesting that so did everything he could. From here take the growth of the euro in the near future? From the data currently held in interest rates of business activity in services, as well as the volume of retail sales. And he and the other does not promise high growth, but any significant deviation from the forecast can cause sharp fluctuations in rates on a thin market.
GBP
Pounds much more fortunate than the euro - it almost did not go out of their range. And today may reach its finest hour. As we mentioned in previous reviews, a great interest today will submit a report on business activity in the service sector. Since last month, is the first time in a long time crossed the 50-punktovuyu mark, confirming that the industry has moved into a phase of growth. If this time theindex will remain above this watershed, this could trigger consolidation of the British currency, which increased more in the markets and the absence of American traders.
Yesterday's report from the British unit did not bring anything positive: the activity in the UK construction sector continued to decline in June. Index of CIPS in the construction sector reached 44.5 against 45.9 in May. The Institute reports that all 3 of this sub-sector reported a decline of activity. The volume of new orders continued to decline, the CIPS said: Construction of the UK receive less orders from the fact that their clients have to reduce costs. And surprising, given that the real estate market most affected by the current crisis.
JPY
Jena was in the Tabor after disappointing U.S. data: not only that she was not given in the U.S., so a much stronger against other currencies, indicating that it is the most popular Monetary haven for traders. Of course, during the Asian session, passion poutihli, but the question still remains under the continuing theme of the Chinese comments on the topic further on the agenda of G8 - the dollar as world reserve currency. If next week, these conversations continue, the yen may gain points against the dollar.
It is time to relax
USD
We expected a big reaction to two key events, and we get it. U.S. still managed to win back its position against major rivals (except for the yen), which, as we assumed all was all the same flight from risky positions. U.S. employers in June declined jobs at 467 thousand, the rate of b /d increase, and hourly earnings have not changed. This is an indication that the incentive measures taken by the Obama administration, the labor market have very little support. The magnitude of reduction in jobs outside the agricultural sector exceededthe forecasts of analysts and followed a decline in May at 322 thousand Bid Unemployment jumped up to 9.5%, which was the maximum value from August 1983 the first year. Of course, the rate of close to -500 thousand most likely represents a sharp correction after the very positive results of the previous month, but it is becoming clear that more needed to be address in order to stabilize the economy. And while investors do not receive a portion of the positive, the dollar may continue to strengthen. Small doses of sedatives were received yesterday.
A separate weekly report showed that the number of laid-off workers, who first applied for benefits b /d, fell twice more than expected last week. Number of employees who already receive benefits is not the first week, also fell, as it assumes a recovery is still problematic in the labor market. Same volume of orders received in May by American factories rose for the third time over the past four months, thanks to higher demand for airplanes, computers and industrial equipment.
orders increased by 1.2%, highest since June 2008, following a revised growth at 0.5% in April, which was less than the preliminary assessment.
Today, American markets closed for Independence Day. And surprisingly, that over the past ten years in this day volatility on the dollar pairs remained very low. So the most likely pair to be locked in narrow ranges, perevarivaya yesterday's movements and preparing for next week.
EUR
Yesterday euro came under fire. Meeting the ECB, as expected, did not bring any surprises, but the U.S. data led traders to give preference to currency of refuge. Trichet's Speech, it was so sweet and did not contain any zatsepok to strengthen the single currency. ECB head Jean-Claude Trichet made it clear that the ECB at the moment no plans to lower the bid, and said that the economy in the euro zone will begin to recover in mid-2010. Economic activity is likely to be low, but the decline would not be so strong as in the 1 quarter, - the head of the ECB. And over the last week of the refinancing transactions Trichet said that it should strengthen the position of banks and to support the normalization of money markets.
In addition, we also received a series of unfavorable data. As expected, the rate of unemployment in the euro zone rose to mark the 10-year peak of 9.5%. Figures of the previous months were subjected to minor revision. In May, the work lost about 273 thousand citizens (as against 399 thousand in April, and 423 thousand in March), which led to the total number of unemployed amounted to 15 million, to 3.4 million higher than the previous year . Producer prices in May fell by 0.2%, as lower prices for intermediate goods offset the increase in energy prices. Most analysts expect that prices will remain unchanged, but were uncertain about whether, in which direction the price will change if this does happen. Thus, deflation is still looming on the horizon, but the ECB continues to proudly remain silent, suggesting that so did everything he could. From here take the growth of the euro in the near future? From the data currently held in interest rates of business activity in services, as well as the volume of retail sales. And he and the other does not promise high growth, but any significant deviation from the forecast can cause sharp fluctuations in rates on a thin market.
GBP
Pounds much more fortunate than the euro - it almost did not go out of their range. And today may reach its finest hour. As we mentioned in previous reviews, a great interest today will submit a report on business activity in the service sector. Since last month, is the first time in a long time crossed the 50-punktovuyu mark, confirming that the industry has moved into a phase of growth. If this time theindex will remain above this watershed, this could trigger consolidation of the British currency, which increased more in the markets and the absence of American traders.
Yesterday's report from the British unit did not bring anything positive: the activity in the UK construction sector continued to decline in June. Index of CIPS in the construction sector reached 44.5 against 45.9 in May. The Institute reports that all 3 of this sub-sector reported a decline of activity. The volume of new orders continued to decline, the CIPS said: Construction of the UK receive less orders from the fact that their clients have to reduce costs. And surprising, given that the real estate market most affected by the current crisis.
JPY
Jena was in the Tabor after disappointing U.S. data: not only that she was not given in the U.S., so a much stronger against other currencies, indicating that it is the most popular Monetary haven for traders. Of course, during the Asian session, passion poutihli, but the question still remains under the continuing theme of the Chinese comments on the topic further on the agenda of G8 - the dollar as world reserve currency. If next week, these conversations continue, the yen may gain points against the dollar.
It is possible that there will be a new wave of reduction of the RTS index to the level of 830 points
The Russian stock market is expected to decline in the entire spectrum of the most liquid securities
Wimm-Bill-Dann will pay dividends for 2008 of $ 2974.80 rubles per share
Revenues for 2008 CSW was 23.6 billion rubles
LUKOIL-Volgogradenergo began operating in the Volgograd region
Review of the FOREX market for 02.07.09
On Friday, futures on U.S. indices show significant growth
People and companies
From 26 June to 3 July on the secondary market prices of real estate of Kiev for one-room apartments fell by 1,1%