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European premarket from Sergei Kostenko
14.09.2012
Market will continue to grow due to the Fed decision
European shares market closed mixed on Thursday pending the results of the Fed meeting. Some kind of uncertainty about whether the Fed will launch another round of quantitative easing, and what it would be like, forced the investors to cut previously opened positions.
Index DJ EURO STOXX BANK up to previous trading closed at 108.60 (-2.12%). Shares of Intesa Sanpaolo, Societe Generale and UniCredit fell from 2.34% to 3.04%.
Major European indexes at the close of the previous trading session: FTSE 100 - 5,819.92 (+0.65%); DAX 30 - 7,310.32 (-0.45%); CAC 40 - 3,502.09 (-1.18%). Futures on the DJ STOXX 50 in the morning prior before the opening of trading in Europe is 2,591.00 (+1.81%). Trading in Europe opened with the strong growth.
European index of "blue chips" FTSEurofirst 300, closed on Thursday at 1,106.27 (-0.16%).
Before the opening of the European session US yield on 10-year T-Note is 1.75% (+0.030 NCP), the 10-year German Government Bonds is 1.60% (+0.079 NCP), and the 10-year UK Government Bonds is 1.82% (-0.016 NCP), the 10-year Spanish Government Bonds 5.60 (-0.034 NCP), 10-year-old Italy Government Bonds 4.96 (-0.050 NCP).
Oil futures morning before the opening of the European trading session after rising the Fed to start unlimited stimulate the national economy, which is supported primarily raw materials and commodity assets.
Brent Oil (ICE) in the morning electronic trading before the opening of Europe at 116.93 (+0.90%), and U.S. crude oil WTI (ICE) 99.72 (+1.41%).
Gold futures morning at 1,777.00 (+0.28%), quotes copper at 379.40 (+2.26%).
Commodity Index CRB Index for the previous trading day was 317.45 (+0.55%).
In the currency market, the dollar continues to fall because of the decision of the Fed to stimulate the U.S. economy indefinitely.
Futures on the dollar index, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 78.98 (-0.33%).
Prediction of the day:
After the Fed's monetary policy the dollar continues to decline against major currencies. On this background the short term the pair EURUSD has the potential to grow to the level of 1.3185.
Events today:
Moscow time
13.00 Eurozone consumer price index in August n / a; 2,6% y / y, 2.6% y / y
13.00 Eurozone core consumer price index in August n / a; 1,7% y / y and 1.7% y / y
13.00 Eurozone Employment Change Q2. 2012 n / a; -0,2% q / q, 0.2% q / q
16.30 Canada Industrial sales in July n / a; 0,5% m / m, -0.4% m / m
16.30 U.S. core consumer price index in August n / a; 0,2% m / m and 0.1% m / m
Basic 16.30 U.S. retail sales in August n / a; 0,6% m / m and 0.8% m / m
16.30 U.S. retail sales in August n / a; 0,7% m / m and 0.8% m / m
16:30 U.S. consumer price index in August n / a; 0,5% m / m and 0.0% m / m
17.15 U.S. capacity utilization in August n / a; 79,4%; 79,3%
17.15 U.S. industrial production in August n / a; 0,2% m / m and 0.6% m / m
17.55 U.S. Preliminary data on the index of consumer sentiment from the University of Michigan in September n / a; 74,1; 74,3
17.55 U.S. Preliminary data on inflation expectations from the University of Michigan in September n / a; n / a; 3,6%
18.00 U.S. business inventories in July n / a; 0,3% m / m and 0.1% m / m
Sergei Kostenko
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