FUNDAMENTAL REVIEW 05.10.12

 

Statistics from the USA is in the focus today

 

Minutes of the Fed meeting confirmed the determination of the Federal Reserve to conduct QE 3 and all other colleagues doubt the bulk of Bernanke and U.S. lawmakers agree with the beginning of the program and believe that it will be effective. 

In general, the Fed said about waiting for a "moderate growth in the next quarter, but the pace of increase for the period 2013-2015" years.

 

Against the background of the Fed meeting minutes and markets are already established tradition for the second time a positive answer to their publication. The American dollar has continued to fall, with a large total against the euro yesterday as ECB President Draghi M. inspired investors. He said that the ECB is ready to start at any time for redemption of debt securities of European problem countries outside the monetary union.

 

Mario Draghi reassured markets that the ECB is "quite an effective mechanism for the implementation" of the plan. Parameters of the scheme of redemption of government bonds were not announced at the press conference, but the single currency continues to rise on these expectations. In addition, investors continue to believe that Spain will still have to resort to financial aid, despite its opposition to this, it seems, the markets still make the Spaniards do it.

 

Today, the players' attention entirely on the statistics from the U.S.. Positive data clearly lead to a weaker dollar.

 

Events today:

Moscow time

11.00 Switzerland foreign exchange reserves in September n / a; n / a; 418,4 billion francs

13.00 Eurozone Final data on changes in GDP Q2. 2012 n / a; -0,2% q / q, 0.2% q / q

Germany 14.00 Change in orders in industry in August n / a; -0,4% m / m and 0.5% m / m

Canada 16.30 Number of building permits in August n / a; -0,7% m / m, -2.3% m / m

16.30 Canada Changing the number of employed in September n / a; 11.900; 34.300

16.30 Canada unemployment rate in September n / a; 7,3%; 7,3%

16:30 U.S. Change in number of employees (excluding agriculture) September n / a; 111.000; 96.000

16.30 U.S. unemployment rate in September n / a; 8,2%; 8,1%

16:30 U.S. Change in average hourly wages in September n / a; 0,2% m / m and 0.0% m / m

21.00 of the members of the U.S. FOMC E. Duke

23.00 Change of U.S. consumer credit in August n / a; 6,3 billion; -3.3 billion