Global stock indices rapidly grew in the last autumn day, affected by cooperated actions of central banks on currency swap rates decrease. Bulls were also supported by People’s Bank of China, decreasing norms of obligatory banking reserves by 50 basis points. The majority of shares of UX index basket were traded on the positive territory. Trade volume on the market of applications significantly increased.
Among important news we can admit the decrease of Chinese PMI index of manufacturing activity in November to 47,7 points from 51 points of October.
Favorable information for bulls is from “Beige book” – the report of the USA Federal Reserve. By this document, economic activity grew with moderate temps generally due to manufacturing industry and consumer expenses in 11 out of 12 regions. The report confirmed the estimation of Central Bank, which claims that economic growth is still too weak, to decrease the unemployment rate, which is close to 9% for over 2 years. In minutes of the last FOMC meeting is said that FRS should consider further monetary policy mitigation.
Following statistics will be published today:
- 10:15 PMI Manufacturing Activity Index of France
- 10:55 PMI Manufacturing Activity Index of Germany
- 11:00 PMI Manufacturing Activity Index of Euro-region
- 15:30 Unemployment applications (the USA)
- 17:00 ISM Manufacturing Activity Index (the USA)
Asian indices show increasing dynamics. Chinese SSEC, Japanese Nikkei, Korean KOSPI increased by 2,24 %, 1,93 %, 3,72 % respectively.
EUR-USD exchange rate and Brent oil price show growth.
Russian RTS index is on the positive territory.
Negative external background was formed on the opening.
The Futures for UX – UX-12.11. Technical analysis.
On the 4-houred timeframe the price is above the Parabolic indicator. Oscillators formed the sign to purchase. The trend is bullish.
On the quarter timeframe the price placed above the Parabolic indicator. RSI and MACD formed the sign to sell. The trend is bullish.
Analytical department of IC IFG CAPITAL forecasts index and futures increase by the results of the trade session. Investors dispose to keep playing positive from liquidity growth. Herewith, expectations of French and German leaders’ claims of reached progress in Brussels negotiations will restrain from profit fixations.
IC IFG CAPITAL, LLC
Alexey Sidorov
ik.ifgcapital.com.ua
www.ifgcapital.com.ua
