16 SEPTEMBER 2013: Further Movement In The Markets Will Depend On The FRS Decision On Wednesday On Friday, September 13, the trading session in the stock markets of the USA was influenced by a number of macroeconomic data which have reflected changes in the consumer spirit of the Americans. Statistical data was of mixed character. The greatest disappointment was brought by a preliminary index of consumer confidence of Michigan University, which in September fell to the minimum level since April, to 76.8 points from 82.1 points in August. Retails show incensement the 5th month in a row, August increased by 0.2%, having conceded to a more optimistic forecast of analysts of 0.5%. Contradictory, and generally the adverse macroeconomic statistics were apprehended by investors quite quietly, as unconvincing results of the recovery of the American economy can play a constraining role in the intentions of FRS to reduce scales of financial stimulation at the meeting on monetary policy. It seems that the stock markets reconciled and already, in a certain degree, won back the future gradual turning of the program of "quantitative easing" - #QE3. Now the main issue for investors is when the QE3 will actually be closed, and how strongly the program will be cut down. According to a poll of leading economists by Bloomberg news agency, the majority of them consider that the decision on this question will be made during the coming meeting of the FRS and the volume of financial injections will be cut down on 10 billion #Dollars. In the previous week, the American Dollar appeared to be under pressure and finished the trading week around the level of 1.3280. This week #EUR/USD pair started trading on the level 1.3353 and now trade on a level of 1.3070. Depending on the news coming from the FRS meeting, the currency pair can try the resistance level on 1.3460. In case of a decrease in quotations - the closest level of support there is a level of 1.31. As for the commodity market, there are oil loses in price, in connection with the certain weakening of confrontation concerning Syria, and against unfavorable American data on retails and consumer confidence that strengthened concern in relation to the prospects of demand for energy carriers. In comparison with the closing price on Friday, #Oil made a loss of 2.1%. This morning, Brent is traded on a price of 110.58$ per barrel and Light is on 106.44$. #Gold is 1.26% up at 1325.09$, Silver increasing for 0.76%.
Posted on: Mon, 16 Sep 2013 14:45:14 +0000
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