The U.S. dollar continued to strengthen steadily against the European and “commodity” currencies
The U.S. dollar continued to strengthen steadily against the European and “commodity” currencies against the backdrop of the positive macroeconomic news from the U.S.. Left better than expected GDP data for the United States in the IV quarter confirmed the hypothesis that more confident reconstruction of the American economy compared with other developed nations. In October-December 2009, gross domestic product in the U.S. grew by 5,7% per annum (1.4% in III quarter). At the same time in relation to the same period in 2008 growth was 0.1%. Speaking about the overall outcome of last year, in 2009 the U.S. economy declined by 2.4% - the maximum drop since the end of World War II. The largest contribution to GDP growth in the IV quarter introduced component inventories. In the end, companies are less active than in previous quarters, reduced inventory, which has made a significant positive contribution to overall GDP growth (3.4% per annum).
Positive findings were published Friday in the University of Michigan. The calculated index of consumer sentiment in January amounted to 74.4 points against its earlier preliminary assessment of 72,8. Index of Purchasing Management-Chicago in January, also surpassed the consensus forecast. Such block positive makrostatistiki the U.S. again stepped up talk of an early rate hike by the U.S. Fedrezerva.
In the end, the end of the Friday session, the main steam forex market has fallen below the turn of $ 1.39 per euro. Additional pressure on the European currency has statistics from the labor market. In particular, the December unemployment rate in the euro area amounted to 10%. The total number of unemployed reached 15.763 million people. In addition, the ECB published the data on the situation with lending in monetary union. According to the report of the regulator in December lending non-financial companies in the eurozone fell by 2.3% over the same period in 2008. This has somewhat improved the situation with the lending of households, this increase was recorded at 1,3%.
Today, on our forecasts, the euro will be predominantly in the range of bargain 1,3830-1,3980 dollar.
Russia at the opening of the market is waiting to move dod19wnwards, while the MICEX index will test support around 1400 points
Today, continued decline of commodity stocks, the market can look better “telecom”
Technical analysis of oil prices, U.S. index and a pair of euro-dollar - all spoke in support of domestic “Bears”
In 2009, the company reduced shipments of ChTPZ pipe production by 23% to 1.131 million tons
Sberbank intends to acquire 60% stake in manufacturer”s packaging GOTEK
LUKoil signed a contract to develop West Qurna-2 in Iraq
Net profit of “Gazprom” for 9 months of 2009 under IFRS was reduced by 33% and amounted to 470 874 million rubles
On Friday, the U.S. stock market dominated by pessimism
Review of the FOREX market for 29.01.10
