Native stock indices steadily went on growing on Wednesday. The majority of shares of the UX index basket were traded in the green zone. Trade volume increased. Analytic department remarks that the UX index comes close to the resistance level of 2350 points for the third time in July. In case that UX index breaks the barrier, it will finally leave the middle-term bearish trend, started in late March.
Investors’ sentiments improvement on the European markets may be caused by the expectations of ECB to start purchasing bonds of troubleshooting countries within the Securities Market Program (SMP). The next was Head of the USA FRS who alluded on the possibility of start of the third stage QE program in case of situation worsening.
As a result European and the USA indices closed the day on the positive territory.
The situation on the developed markets worsened today. Oil prices and EUR-USD exchange rate pointed downwards. There is inexpressive dynamics on the Asian markets.
Apparently, this is caused by Moody’s Investors Service agency, which placed the USA rating to the reconsideration with a possibility of decrease.
European markets are under threat too.
International rating agency Fitch Ratings decreased the long-term rating of Greece issuer default in local and foreign currency from B+ to CCC. The short-term default issuer rating in foreign currency has also decreased – from B to C.
The IMF reconsidered the forecast on the Greece governmental debt 2012 to be 172% from GDP, versus previous estimation of 159% from GDP published in March. The GDP forecast is also worsened. Herewith, the GDP of Greece will decrease in 2011 by 3,8%.
There was neutral external background on the opening of Ukrainian stock market.
Following substantial information will be published today:
- 12:00 Consumer price index of Eurozone
- 15:30 The USA retail sales information
- 15:30 Manufacturer price index
- 15:30 Unemployment applications
Asian stock indices demonstrated different dynamics. Chinese SSEC, Korean KOSPI increased by 0,18%, 0,02% respectively. Japanese Nikkei dropped by 0,27%.
Russian RTS index opened the day in green zone.
The Futures for UX Index 6.11. Technical analysis.
On the 4-houred timeframe the price is placed below the Parabolic indicator. Stochastic keeps the sign to purchase. RSI and MACD demonstrate the dynamics close to neutral. The trend is lateral.
On the quarter timeframe the price placed above the Parabolic indicator. Stochastic is close to its maximum value. MACD formed the sign to buy. The trend is bullish.
By Alexey Sidorov, Analyst of IC IFG CAPITAL, if UX index overcomes the barrier of 2350 points, this will mean the reinforcement of bullish sentiments. The drop cannot be excluded in case of weak statistics from the USA.
Analytic Department of IC IFG CAPITAL forecasts Index and Futures increase, in case of receiving bullish signs from the USA.
