On Thursday 15.12.2011 on European and the USA stock markets was a correction growth. Reasons for Europe were improvement of manufacturing activity indicators in December and relatively successful auction on Spanish bonds placement. For the USA the reason was generally positive statistics.
Domestic market could not play back the improvement of external situation because it was attacked by Moody’s. Forecast on long-term sovereign rating of Ukraine was worsened from “stable” to “negative”. Another resisting factor was the expiration of options, which had futures for UX index as basis asset.
The majority of shares of UX index basket were traded on the negative territory. Trade volume on the market of applications increased.
The news is generally bearish, but investors worked out the resistance to negative, within the short-term reselling.
Hungary and Czech Republic are not willing to share the future agreement of unique fiscal system in EU and the limitation of authority of national fiscal system.
Fitch Ratings followed Moody’s Investors Service and Standard & Poor’s decreased credit ratings of American creditors Bank of America, Goldman Sachs Group and Citigroup by one level – from A+ to A. It is also worse to admit that credit rating of European banks Barclays, Credit Suisse Group, Deutsche Bank, BNP Paribas was also reconsidered to the downgrading.
It is worth to admit the approval of intermediate budget by the USA Congress among positive news. It lets to finance government till the end of 2012 financial year.
Following statistics will be published today:
15:30 Consumer price index of the USA
Asian stock indices play the improvement of moods in Europe and the USA. Chinese SSEC, Japanese Nikkei, Korean KOSPI increased by 2,01 %, 0,29%, 1,15 % respectively.
EUR-USD exchange rate and Brent oil price grow.
Russian RTS index opened the day in the 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 is below the Parabolic indicator. Stochastic, RSI and MACD formed the sign to buy. The trend is bearish.
On the quarter timeframe the price placed above the Parabolic indicator. Oscillators do not give the univocal signs. The trend is bullish.
We expect the European dynamics not worse than neutral.
Analytical department of IC IFG CAPITAL forecasts index and futures increase by the results of the trade session, after playing back the arrearage from European stock indicators.
IC IFG CAPITAL, LLC
Alexey Sidorov
ik.ifgcapital.com.ua
www.ifgcapital.com.ua
