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ECB inspired markets 
 
European stock markets were closed on Thursday with a strong growth due to the decision of the ECB to conduct unlimited redemption at par in cooperation with private investors of short-term government bonds of troubled eurozone countries. The top gainers were the stocks of banking ...
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ECB inspired markets 
 
European stock markets were closed on Thursday with a strong growth due to the decision of the ECB to conduct unlimited redemption at par in cooperation with private investors of short-term government bonds of troubled eurozone countries. The top gainers were the stocks of banking companies.
Index DJ EURO STOXX BANK up to previous trading closed at 104.37 (+5.93%). Shares of Deutsche Bank, Societe Generale and UniCredit soared from 7.06% to 8.14%.
 
Major European indexes at the close of the previous trading session: FTSE 100 - 5,777.34 (+2.11%); DAX 30 - 7,167.33 (+2.91%); CAC 40 - 3,509.88 (+3.06%). Futures on the DJ STOXX 50 in the morning  before the opening of trading in Europe is 2,539.00 (+0.79%). Trading in Europe will open growth of the major stock indexes.
 
European index of "blue chips" FTSEurofirst 300, closed on Thursday at 1,104.76 (+2.36%).
 
Before the opening of the European session US yield on 10-year T-Note is 1.69% (+0.009 NCP), the 10-year German Government Bonds is 1.57% (+0.004 NCP), and the 10-year UK Government Bonds is 1.71% (+0.070 NCP), the 10-year Spanish Government Bonds 6.01 (-0.103 NCP), 10-year-old Italy Government Bonds 5.27 (-0.058 NCP). The sharp decline in yields of Spanish and Italian government bonds due to the ECB's decision to actively and in unlimited quantities to buy their debt securities. This action is designed to create a stabilization of the European debt market.
 
Oil futures in London on the morning prior to the opening of the European trading session, moving in different directions after yesterday's growth against the decision of the ECB to actively participate in the purchase of short-term government bonds of troubled European countries.
Brent Oil (ICE) in morning electronic trading before the opening of Europe at 113.57 (+0.07%), and U.S. crude oil WTI (ICE) 95.37 (-0.17%).
Gold futures morning at 1,695.60 (-0.59%), quotes copper at 353.70 (+0.58%).
Commodity Index CRB Index for the previous trading day was 308.89 (+0.20%).
 
In the currency markets great support having the commoditys due to the strong growth in the Chinese stock market. European currencies and the yen are moving in a different directions in anticipation of employment data in the U.S., which will be published later.
Futures on the dollar index, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 81.04 (+0.02%).
 
Prediction of the day:
If current data on employment in the non-agricultural sector of the U.S. will be worse than expected, it will be a good signal for the market to launch the Fed QE 3 this year, but it will undoubtedly have a negative pressure on the U.S. dollar. We are waiting for the release of statistics from the U.S..
 
Events today:
Moscow time
11.00 Switzerland foreign exchange reserves in August n / a; n / a; 408,6 billion francs
Volume 12.30 UK manufacturing output in July n / a; 2,1% m / m, -2.9% m / m
12.30 UK Producer Price Index in August n / a; 1,6% m / m, 1.3% y / y
12.30 UK expected consumer inflation n / a; n / a; 3,7%
12.30 UK industrial output in July n / a; 1,7% m / m, -2.5% m / m
12.30 UK Producer Price Index in August n / a; 0,3% m / m and 0.0% m / m
14.00 Germany's industrial production in July n / a; 0,1% m / m, -0.9% m / m
Canada 16.30 Number of building permits in July n / a; -1,5% m / m, -2.5% m / m
16.30 Canada Changing the number of employed in August n / a; 9.900; -30.400
16.30 Canada unemployment rate in August n / a; 7,3%; 7,3%
16.30 Canada Productivity Q2. 2012 n / a; 0,2% q / q and 0.1% q / q
16:30 U.S. Change in number of employees (excluding agriculture) August n / a; 121.000; 163.000
16.30 U.S. unemployment rate in August n / a; 8,3%; 8,3%
16:30 U.S. Change in average hourly wages in August n / a; 0,2% m / m and 0.1% m / m
18.00 Canada Business Index from August Ivey n / a; 64,5; 62,8
18.00 Assessment of changes in UK NIESR GDP from June-August, n / a; n / a; -0,2%
 
Sergei Kostenko
 

* Recommendations listed in this article, can not be used as a base for the direct actions.

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Today, all the attention to data from the U.S.
 
Market reaction to the decision of the board of governors of the ECB to buy the unlimited quantities of short-term bonds to 3 years, caused a rally in global stock markets. In general, investors have been confirmed with the leakage ...
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Today, all the attention to data from the U.S.
 
Market reaction to the decision of the board of governors of the ECB to buy the unlimited quantities of short-term bonds to 3 years, caused a rally in global stock markets. In general, investors have been confirmed with the leakage of the likely actions of the ECB, which was filling the markets. Now it is important to publish a press release which will include details of the action of the European Central Bank.
 
As for the situation in the markets, on the eve of the publication of important data on employment in the United States, the foreign exchange market has ambiguous situation. Especially for a sold-out commodity currencies which are rising against the bad grown Chinese stock market and the expectations of a large amount of liquidity from the ECB. Australian dollar rises, despite of the weak economic statistics. The index of business activity in the construction sector (from AIG) reached the level of 32.2 points versus 32.5 points of the predicted value. The trade balance was also not up to -0.56 billion dollars against 0.01 billion dollars, but inspite of this, the "Aussie" continues to rise in anticipation of new volumes of liquidity not only from the ECB, but from the Federal Reserve as well.
 
The single currency has stabilized after yesterday's volatile trading in anticipation of data from the U.S...
 
In general we can say that if the data on employment in the non-agricultural sector of the U.S. economy will be weaker than the forecast, it will be a strong signal for the Fed to launch new issue of incentives and will have a negative pressure on the U.S. dollar.
 
Events today:
Moscow time
11.00 Switzerland foreign exchange reserves in August n / a; n / a; 408,6 billion francs
Volume 
12.30 UK manufacturing output in July n / a; 2,1% m / m, -2.9% m / m
12.30 UK Producer Price Index in August n / a; 1,6% m / m, 1.3% y / y
12.30 UK expected consumer inflation n / a; n / a; 3,7%
12.30 UK industrial output in July n / a; 1,7% m / m, -2.5% m / m
12.30 UK Producer Price Index in August n / a; 0,3% m / m and 0.0% m / m
14.00 Germany's industrial production in July n / a; 0,1% m / m, -0.9% m / m
Canada 
16.30 Number of building permits in July n / a; -1,5% m / m, -2.5% m / m
16.30 Canada Changing the number of employed in August n / a; 9.900; -30.400
16.30 Canada unemployment rate in August n / a; 7,3%; 7,3%
16.30 Canada Productivity Q2. 2012 n / a; 0,2% q / q and 0.1% q / q
16:30 U.S. Change in number of employees (excluding agriculture) August n / a; 121.000; 163.000
16.30 U.S. unemployment rate in August n / a; 8,3%; 8,3%
16:30 U.S. Change in average hourly wages in August n / a; 0,2% m / m and 0.1% m / m
18.00 Canada Business Index from August Ivey n / a; 64,5; 62,8
18.00 Assessment of changes in UK NIESR GDP from June-August, n / a; n / a; -0,2%
19:40 Presentation Canada Governor of the Bank of Canada M.Karni n / an / an / a
 
Sergei Kostenko
 

 

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The U.S. market will continue to adjusted today ...
 
The U.S. stock market closed mixed on Tuesday, as a whole by adjusting the profit in anticipation of the ECB on repurchase of debt securities of short-term problem of the euro area, as well as the release of the data ...
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The U.S. market will continue to adjusted today ...
 
The U.S. stock market closed mixed on Tuesday, as a whole by adjusting the profit in anticipation of the ECB on repurchase of debt securities of short-term problem of the euro area, as well as the release of the data about the U.S. employment, which will be published on Friday.
Largest decline has the stocks of such a companies as Facebook, United Technologies and Caterpillar Inc, which lost between 1.82% to 3.13%.
American BKX bank index closed yesterday at 47.24 (+0.11%). Stocks of companies Bank of America Co. and Goldman Sachs Group Inc rose by 0.13% and 0.65% respectively.
 
U.S. stock indexes for the previous trading day closed at: DJI-13,035.94 (-0.42%); S & P 500 - 1,404.94 (-0.12%); NASDAQ Comp. - 3,075.06 (+0.26%).
On the eve of the U.S. trading session, futures on the broad market index S & P 500 is 1,401.70 (-0.31%). U.S. markets will open with a reduction.
 
Oil futures in London before opening in New York are down due to the fears that fail will take the decisive action to fight the crisis in Europe.
Oil futures of Brent Oil (ICE) day at 113.55 (-0.56%), the U.S. oil WTI (ICE) 95.02 (-0.30%). Gold futures stood at 1,691.00 (-0.29%), quotes copper at 347.30 (+0.12).
Goldmann Sachs Commodity Index XOI last session stood at 1219.36 (-0.83%).
In the foreign exchange market witnessed volatile dynamics in the context of low volumes. EURUSD GBPUSD pair are getting the support amid weak results auctions of government bonds. Obviously, this local growth is seen as the result of the principle of "the worse, the better", in other words the worse is the economic situation in Europe, the more vigorously the ECB can act.
Futures on the dollar index, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 81.40 (+0.10%).
 
Prediction of the day:
Reducing expectations that the ECB on September 6 will present a plan to purchase debt securities of distressed European countries, may lead to a correction to the level of the EURUSD 1.2450. One can assume that if the amount of ransom would be small, it can have a negative impact on the euro.
 
Events today:
Moscow time
16.30 Revised data on U.S. labor productivity outside agriculture Q2 2012 n / a; 1,8% q / q and 1.6% q / q
16.30 Revised data on U.S. labor costs Q2. 2012 n / a; 1,5% q / q and 1.7% q / q
17.00 Canada Decision of the Bank of Canada Interest Rate n / a; 1,00%; 1,00%
17.00 Statement of Canada Bank of Canada interest rate
Sergei Kostenko

* Recommendations listed in this article, can not be used as a base for the direct actions.

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The market is adjusting before the ECB meeting ...
 
European stock market fell on Tuesday from a global outbreak of profit due to the lack of clear signals from the Fed and doubt that on September 6 the ECB will announce all the details of redemption of short-term debt ...
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The market is adjusting before the ECB meeting ...
 
European stock market fell on Tuesday from a global outbreak of profit due to the lack of clear signals from the Fed and doubt that on September 6 the ECB will announce all the details of redemption of short-term debt securities in troubled European countries. In the largest decline were stocks of mining companies Rio Tinto and Xstrata, which fell by 2.63% to 3.14%.
Index DJ EURO STOXX BANK up to previous trading to close at 97.83 (-0.40%).
Paper Lloyds Banking Group, Deutsche Bank and Royal Bank of Scotland fell from 1.54% to 2.56%.
Major European indexes at the close of the previous trading session: FTSE 100 - 5,672.01 (-1.50%); DAX 30 - 6,932.58 (-1.17%); CAC 40 - 3,399.04 (-1.58%). Futures DJ STOXX 50 in the morning before the opening of trading in Europe is 2,437.00 (0.16, -08%). European stock markets open neutral.
 
European index of "blue chips" FTSEurofirst 300, closed on Tuesday at 1,079.12 (-1.14%).
Before the opening of the European session US yield on 10-year T-Note is 1.56% (-0.012 points), the 10-year German Government Bonds is 1.42% (-0.012 points), and 10-year UK Government Bonds is 1.63% (+0.000 points), Spanish Government Bonds 6.57% (-0.283 points), Italy Government Bonds 5.67% (-0.103 points).
Oil futures on the morning electronic trading in London are falling after yesterday's profit and correction of the U.S. stock market.
Brent Oil (ICE) in morning electronic trading before the opening of Europe at 113.95 (-0.20%) and the U.S. crude oil WTI (ICE) 95.14 (-0.17%).
 
Gold futures in the morning at 1,694.20 (-0.11%), quotes copper at 346.35 (-0.16%).
Commodity Index CRB Index for the previous trading day was 308.81 (-0.25%).
In the currency market, the dollar is supported against the major currencies except the yen amid expectations of the results of the ECB meeting, and weak social statistics from the U.S., which continues to point to the negative trends in the U.S. economy. Reducing Australia's GDP had a negative impact on the Australian dollar, which continues to fall. The euro also remained under pressure as a result of the uncertainty of the ECB’s plans on September 6 to buy distressed debt securities of euro area countries.
The dollar index ICE, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 81.54 (+0.27%).
 
Prediction of the day:
Unclear picture of the actions of the ECB could lead to a correction to the level of the EURUSD to 1.2450.
 
Events today:
Moscow time
11.15 Switzerland Consumer Price Index in August n / a; 0,1% m / m, -0.5% m / m
12.00 Eurozone Final data on the index of business activity in the services sector in August n / a; 47,5; 47,5
12.30 UK PMI services sector in August n / a; 51,5; 51,0
13.00 Eurozone retail sales in July n / a; -0,2% m / m and 0.2% m / m
During the day the UK auction on placement of 30-year government bond n / a; 3,22 / 2,2
During the day, Germany auction on placement of 10-year government bond n / a 1,42 / 1,8
16.30 Revised data on U.S. labor productivity outside agriculture Q2 2012 n / a; 1,8% q / q and 1.6% q / q
16.30 Revised data on U.S. labor costs Q2. 2012 n / a; 1,5% q / q and 1.7% q / q
17.00 Canada Decision of the Bank of Canada Interest Rate n / a; 1,00%; 1,00%
17.00 Statement of Canada Bank of Canada interest rate
 
Sergei Kostenko

* Recommendations listed in this article, can not be used as a base for the direct actions.

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Today attention to statistics from the U.S...
 
The Australian economy continues to experience problems due to China's economic slowdown and the ongoing global crisis. This is indicated by the GDP data, which were worse than expected 0.6% versus 1.3% predicted value. Such negative trends due to the fall in ...
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Today attention to statistics from the U.S...
 
The Australian economy continues to experience problems due to China's economic slowdown and the ongoing global crisis. This is indicated by the GDP data, which were worse than expected 0.6% versus 1.3% predicted value. Such negative trends due to the fall in metal prices on world markets, as well as mining activities there the company continued to be under pressure, it will negatively affect the overall economic picture. It is no coincidence that the index of business activity in the services sector of Australia is falling to the level of 42.4 points, which is well below the threshold of 50 points. For these reasons, the Australian dollar has strengthened its downward movement.
 
The worsening economic situation in Australia is an important example of what happens with the economy, which in fact is not affected by the crisis of 2008-09. Tightening of the current challenges in Europe continues to pull the global economy into the abyss. In this regard, the market is still hope that the ECB did not remain on the sidelines, and the Fed will resume stimulate the national economy.
 
Yesterdays weak PPI data from the U.S. ISM for August, which came out worse than expected 49.6 points versus. 50.0 points, give up hope of investors that the Fed will not be left out. In this situation, will also play a significant role the Friday data on employment in the non-agricultural sector of the U.S., which, if not please the markets, may become a one additional argument in favor of QE 3.
The single currency is trying to be corrected before the unclear outcome of ECB meeting on September 6. It is assumed that this meeting did not attend anything from the markets' expectations, especially the details of short-term debt securities repurchase of troubled countries.
 
Today we should pay attention to data on employment in the U.S. private sector, which will be published later.
 
Statistics for today:
Moscow time
11.15 Switzerland Consumer Price Index in August n / a; 0,1% m / m, -0.5% m / m
12.00 Eurozone Final data on the index of business activity in the services sector in August n / a; 47,5; 47,5
12.30 UK PMI services sector in August n / a; 51,5; 51,0
13.00 Eurozone retail sales in July n / a; -0,2% m / m and 0.2% m / m
During the day the UK auction on placement of 30-year government bond n / a; 3,22 / 2,2
During the day, Germany auction on placement of 10-year government bond n / a 1,42 / 1,8
16.30 Revised data on U.S. labor productivity outside agriculture Q2 2012 n / a; 1,8% q / q and 1.6% q / q
16.30 Revised data on U.S. labor costs Q2. 2012 n / a; 1,5% q / q and 1.7% q / q
17.00 Canada Decision of the Bank of Canada Interest Rate n / a; 1,00%; 1,00%
17.00 Statement of Canada Bank of Canada interest rate
 

Sergei Kostenko

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Wall Street shows real concern about the plan of the ECB..
 
The U.S. stock market was closed yesterday due to the celebration of the Labor Day.
 
U.S. stock indexes for the previous trading day closed at: DJI-13,107.48 (+0.03%); S & P 500 - 1,410.49 (+0.08%); NASDAQ Comp. - ...
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Wall Street shows real concern about the plan of the ECB..
 
The U.S. stock market was closed yesterday due to the celebration of the Labor Day.
 
U.S. stock indexes for the previous trading day closed at: DJI-13,107.48 (+0.03%); S & P 500 - 1,410.49 (+0.08%); NASDAQ Comp. - 3,081.19 (+0.13%).
On the eve of the U.S. trading session, futures on the broad market index S & P 500 is 1,403.80 (-0.09%). U.S. markets will open neutral.
 
Oil futures in London before the opening of the New York moving in different directions due to expectations of stimulus from the FED and the ECB, as well as to the hope that the Chinese regulator is also not going to stand by and start to support the national economy.
Oil futures on Brent Oil (ICE) day at 116.05 (+0.23%), U.S. WTI oil (ICE) 96.92 (-0.23%). Gold futures stood at 1,693.50 (+0.35%), copper quotes at 347.90 (+0.64).
Goldmann Sachs Commodity Index XOI in the last session stood at 1218.62 (-0.95%).
AMERICAN premarket 04/09/2012
 
In the currency market, the dollar gets some support in anticipation of the ECB on repurchase of debt securities of troublesome countries. Up to this point the euro grew because of stabilizing of Europe due to the expectations of the ECB. At the same time, if the data index of business activity in the manufacturing sector of the U.S. ISM will be worse than the forecast, it could lead to a local decrease of the U.S. dollar.
Futures on the dollar index, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 81.22 (-0.01%).
 
Prediction of the day:
The expectation that the FED may launch new incentives, affects the dollar, but it is necessary to consider the possibility of including the printing press in the eurozone, which will undoubtedly have a negative pressure on the euro. But before that happens, the market will try to understand the real volume of short-term bonds redemption, which will be announced by Drage on September 6. And if he won’t be able to see that, it can lead to a local sink of the euro.
 
Events today:
Moscow time
17.00 U.S. Final data on the index of business activity in the industry in August n / a; 51,9; 51,9
18.00 U.S. Index of business activity in the manufacturing sector from the ISM August n / a; 50,1; 49,8
18.00 U.S. The volume of expenses for the construction of in July n / a; 0,4% m / m, 0.4% y / y
18.00 U.S. Producer price index from August ISM n / a; 46,7; 39,5
allday U.S. car sales year on year in August n / a; 14,1 million, 14.1 million
 
Sergei Kostenko
* Recommendations listed in this article, can not be used as a base for the direct actions.
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Pair EUR/USD
 
News background: 
Pair had a good, yet limited support because of the speech of the head of ECB  M. Draghi and their willingness to buy debt securities from the weak, in economic terms, eurozone countries. Additional stimulus was the decline in yields on Spanish and Italian debt ...
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Pair EUR/USD
 
News background: 
Pair had a good, yet limited support because of the speech of the head of ECB  M. Draghi and their willingness to buy debt securities from the weak, in economic terms, eurozone countries. Additional stimulus was the decline in yields on Spanish and Italian debt securities. 
 
Technical picture: 
From a technical point of view, the couple tries to stay above 1.2600, it is possible that it would grow to the level of 1.2650, but its likely to be limited, so it is expected that the beginning of redemption of debt securities to increase the money supply, and also possible 'Going by 0.25% benchmark interest rate. The pair is in the upper Bollinger and above MA 5 and MA 21. 
Oscillator Stoch. points to the possibility of local spread. RSI indicator gives a signal to turn the pair down. 
 
 
Trading recommendations. Sell ​​a couple of short-term, if it crosses the level of 1.2573 to 1.2500 from. 
 
Technical analyst at Forex Bulygina Marina. 

Analytical department of Grand Capital 

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The market continues to hope for the easing of the monetary policy of the FED...
 
European stock market was closed on Monday in hopes of growing that the European Central Bank to start buying unlimited short-term debt securities in troubled eurozone countries. Growth leaders were paper shares of mining ...
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The market continues to hope for the easing of the monetary policy of the FED...
 
European stock market was closed on Monday in hopes of growing that the European Central Bank to start buying unlimited short-term debt securities in troubled eurozone countries. Growth leaders were paper shares of mining companies, which surged on expectations about easing of monetary policy by China. In any case, the weak data of the final index of purchasing managers (PMI) for the manufacturing sector, which came with a reduction to 47.6 points to this possibility. Paper BHP Billiton, Anglo American Plc and Rio Tinto Plc rose from 1.03% to 2.19%.
Index DJ EURO STOXX BANK up to previous trading closed at 98.22 (+0.15%).
Paper Intesa Sanpaolo, BNP Paribas and UniCredit rose from 0.88% to 1.65%.
Major European indexes at the close of the previous trading session: FTSE 100 - 5,758.41 (+0.82%); DAX 30 - 7,014.83 (+0.63%); CAC 40 - 3,453.71 (+1.19%). Futures DJ STOXX 50 in the morning before the opening of trading in Europe is 2,463.00 (+0.16%). European stock markets will open in the green zone.
 
European index of "blue chips" FTSEurofirst 300, closed on Friday at 1,091.61 (+0.80%).
Before the opening of the European session US yield on 10-year T-Note is 1.57% (+0.024 points), the 10-year German Government Bonds is 1.38% (+0.044 points), and 10-year UK Government Bonds is 1.47% (+0.022 points), Spanish Government Bonds 6.85% (+0.004 points), Italy Government Bonds 5.77% (-0.076 points).
Oil futures on the morning electronic trading in London are virtually unchanged relative to yesterday's closing prices because of the expectations of new stimulus from the ECB, the Fed and the Chinese Central Bank, the likelihood of which increases of weak statistics.
Brent Oil (ICE) in morning electronic trading before the opening of Europe at 115.81 (+0.03%) and U.S. WTI oil (ICE) 97.13 (-0.01%).
Gold futures this morning at 1,696.30 (+0.52%), copper quotes are at 348.15 (+0.71%).
Commodity Index CRB Index for the previous trading day was 309.59 (+1.00%).
In the currency market, the dollar is at a slight pressure because of the expectations that the Fed still may announce to launch the new incentives in September if employment data on Friday will not be better than expected.
The dollar index ICE, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 81.13 (-0.11%).
 
Prediction of the day:
The expectation that the Fed may launch new incentives, affects the dollar, but it is necessary to consider the possibility of including the printing press in the eurozone, which will undoubtedly have a negative pressure on the euro.
 
Events today:
Moscow time
12.30 UK index of business activity in the construction sector in August n / a; 50,1; 50,9
13.00 Eurozone Index of price producers in July n / a; 0,3% m / m, -0.5% m / m
17.00 U.S. Final data on the index of business activity in the industry in August n / a; 51,9; 51,9
18.00 U.S. index of business activity in the manufacturing sector from the ISM August n / a; 50,1; 49,8
18.00 U.S. Expenditures for construction in July n / a; 0,4% m / m, 0.4% y / y
18.00 U.S. Index of price producers from August ISM n / a; 46,7; 39,5
allday U.S. car sales year on year in August n / a; 14,1 million, 14.1 million
 
Sergei Kostenko

* Recommendations listed in this article, can not be used as a base for the direct actions.

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FUNDAMENTAL REVIEW 04.09.12
 
Attention to data from the United States...
 
Lowering the credit rating outlook of EU’s "AAA" to negative agency Moody's Investors Service, may force the ECB to act more aggressively on the issue of the early redemption of debt securities in the active concern of European ...
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FUNDAMENTAL REVIEW 04.09.12
 
Attention to data from the United States...
 
Lowering the credit rating outlook of EU’s "AAA" to negative agency Moody's Investors Service, may force the ECB to act more aggressively on the issue of the early redemption of debt securities in the active concern of European countries. Likely downgrade the credit ratings of the leading EU countries - Germany, France, Britain and the Netherlands must provide it. Besides the opposition of German officials to acts of ECB continues.
 
On the 12th of september Germany will vote on the legitimacy of actions of the ECB in the expected redemption of government debt securities of distressed European countries. It is expected that the German parliament will vote positively, thereby eliminated the last powerful obstacle that limits the action of the European Central Bank.
 
Central Bank of Australia left the rate unchanged at 3.5%, which had a stabilizing effect on the Australian dollar and halted its decline.
The single currency still continues to receive support, but its growth is likely to be bounded by the expectation of the ECB on economic incentives.
 
Today, the players' attention will be focused on the data index of manufacturing activity (ISM) in USA. Index is expected to come out at 50 points. If it would be worse than expected, it may be an additional signal for the Fed to launch a new quantitative easing, which means that today local dollar could come under pressure.
 
In general, the situation is still uncertain. Market participants continue to receive statistics on the basis “not worse, than good”. In other words, the worse are the statistics, the more likely new stimulus measures from the Federal Reserve would be increased.
 
Statistics for today:
Moscow time
12.30 UK index of business activity in the construction sector in August n / a; 50,1; 50,9
13.00 Eurozone Index of price producers in July n / a; 0,3% m / m, -0.5% m / m
17.00 U.S. Final data on the index of business activity in the industry in August n / a; 51,9; 51,9
18.00 U.S. index of business activity in the manufacturing sector from the ISM August n / a; 50,1; 49,8
18.00 U.S. Expenditures for construction in July n / a; 0,4% m / m, 0.4% y / y
18.00 U.S. Index of price producers from August ISM n / a; 46,7; 39,5
allday  U.S. car sales year on year in August n / a; 14,1 million, 14.1 million


Sergei Kostenko

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EUR/AUD

News backgroung:

Pair suspended its growth, which she has had from expectations on stabilizing of the situation in Europe under the influence of possible decisive action from the ECB aimed at buying distressed debt securities of European countries. This suspension occurred in anticipation of the ECB itself. It can ...
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EUR/AUD

News backgroung:

Pair suspended its growth, which she has had from expectations on stabilizing of the situation in Europe under the influence of possible decisive action from the ECB aimed at buying distressed debt securities of European countries. This suspension occurred in anticipation of the ECB itself. It can be assumed that, if such redemption will, it will undoubtedly have a negative impact on a pair and it will start to decline.
 

Technical picture:

From a technical point of view, a pair of highly overbought and has the potential for a correction. The pair is outside the outer boundary of the Bollinger Bands and above MA 5 and MA 21.
Oscillator Stoch. is in the overbought zone. The RSI is in the overbought zone already.
 



Trading recommendations. Sell a pair locally, if it is not fixed above the level of 1.2268 to 1.2200.

Technical analyst at Forex Bulygina Marina.
Analytical department of Grand Capital Ltd.
 

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