The stock market and euro rate today: technical analysis

Stock markets and the euro will depend on new data on statistics today

In brief: Bernanke gave the world markets short-term stability, but to talk about restoring the U.S. stock market today is too early.

Stock markets began the morning with mixed dynamics today. Technical factors have contributed to the positive closure of the U.S. market. In the U.S. market were retained areas of annual minima (minima, all the same have been rewritten): Local oversold contributed to a reversal upwards. The outcome of the U.S. indicators have added more interest, and the index Dow Jones completely fall were played Monday.

Major purchases came in the second half of the session, and closing of the day took place at a peak, so growth in the U.S. market is not incorporated in the quotations of securities of Russian issuers. Outcomes of the session leveled the dynamics of futures for U.S. indices, which are adjusted downwards after a wave of growth, but futures still held above the levels at which closed the Russian market. In Asian markets, the mood different direction. Japanese index lost nearly 1.5%, while the Chinese index grows by 0,2%. The pressure on the Japanese market have a mood in the currency market, namely the strengthening of the yen, which is a negative factor for the market exporters. On the Chinese market trading is to wait vital statistics: tomorrow will be announced data on the trade balance, and on Friday before the opening of trading on the Russian market will be announced retail sales and industrial production. In the currency market, significant changes have occurred: EUR / USD pair continued to trade in the range of 1,19-1,20. Negative factor for the euro is a concern of investors on the UK economy. Stabilization of mood in the currency market has supported oil futures that are traded in positive territory to close the Russian market.

Improving external background can contribute to opening in the lung plus, but even at the opening of investors will take into account the negative dynamics of indicators: reduced not only the futures on indices the U.S., but also in oil futures and currency pair. Thus, the beginning of the session can be a good time to close positions. Inside of the day trades can take place Volatility: medium sentiment is still not set, and the session is full of events. The key event of the day with a BS Bernanke speech on the budget, as well as financial and economic conditions. In the first half of the session, the pressure will have data on the UK trade balance, which is especially important in light of the concerns of investors as the country’s economy. In the afternoon session will be published data on wholesale inventories in the U.S.. After the close of business on the eve grew futures on oil and industrial metals, which contributes to a positive opening on the securities sector, but the prevailing sentiment contributed to the closure of the correction of long positions. In addition to increasing the value of futures will support dynamic market sector in the U.S. market.

Ukrainian Globalist
2010-06-09 07:57, Economics.

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