On Tuesday 04.10.2011 domestic and global stock indices were decreasing due to investors’ disappointment in actions of European authorities to struggle debt crisis and worsening of financial sector in Europe. We remind you that ministers of finance postponed making the decision on Greece financial tranche once again. There is mass reduction of financing, several banks claimed of their inability to repay obligations. All shares of UX index basket were traded on the negative territory. By analyst of IC IFG CAPITAL Alexey Sidorov, UX index renewed its annual minimum within the increased trade volumes, which speaks for bearish trend strengthening. Despite the quotations fail in Europe, situation in the USA was not so univocal.Investors considered the deep speech of FRS head and by the end of trade managed to break to the positive territory. Ben Bernanke claimed of its authority readiness to launch the new large program of financial sector crediting if American banks come across the deficit of liquidity within the debt crisis in euro-zone. Also it was said of possibility to take additional actions to provide the more visible restoration of economy within the price stability.EUR-USD exchange rate made a leap from its annual minimum within this information.Oil takes back previously lost positions. Decrease of oil supply in the USA against expected growth became another driver. Investors ignore Italian credit rating downgrade.Moody’s Investors Service downgraded long-term Italy’s bonds from Aa2 to A2 with negative outlook. Informational war between China and the USA is bearish factor too. It may be followed by mutual trade limits. Chairman of US House Intelligence Committee in his speech claimed to force China to stop intellectual piracy. The same time Senate is considering the bill on tax implementation for Chinese goods.Following significant statistics will be published today:12:00 Euro-zone GDP12:00 Retail sales in euro-zone 15:15 Labor changes in non-agricultural sphere of the USA 17:00 Business activity in non-manufacturing sphere index (the USA)Asian indices are in the red zone. Japanese Nikkei and Korean KOSPI lost 0,86% and 2,33% respectively. Russian RTS index started the day in green zone. Positive external background was formed on the opening. The Futures for UX – UX-12.11.
Technical analysis.On the 4-houred timeframe the price placed below the Parabolic indicator. Stochastic and RSI are close to their minimal values. The trend is bearish.On the quarter timeframe the price placed below the Parabolic indicator. Oscillators are in the zone of reselling and do not give the univocal signs. The trend is bearish. At the beginning of trade session European and Russian investors are disposed to play middle-term reselling. Yesterday speech of FRS chairman appears to be the informational reason. We tend to think that this trend will not be long-term because Ben Bernanke did not tell anything unexpected in substance.
Analytical department of IC IFG CAPITAL forecasts Futures and Index increase by the end of trade session.
