Throughout Wednesday, market players prepared for the meeting of Federal Open Market Committee U.S. Federal Reserve. As usual, before such meetings were observed flashes of optimism, which led to the growth of quotations in the morning, but then still the most cautious opted to take profits, and the final changes on paper have turned out in different directions. The plus shut-looking better than the market shares of Sberbank of Russia, in the red - stocks they encounter resistance level of 186 rubles Gazprom, and Lukoil, Surgutneftegaz and VTB. In this case, based on the current external background, we see that most were right, those who yesterday sold the paper: Oil prices fell markedly with data on stocks, showed an increase and stranded more than market expectations, but the response exchanges in the final communiqué of the Committee was also restrained negative.

As for the meeting then, as we expected, and in full accordance with market forecasts, the Federal Open Market Committee U.S. Federal Reserve kept its key interest rate on federal funds at the level of the range of 0 - #188;%. However, the Committee, as previously noted the improving situation on financial markets, with the proviso that the problem of unemployment remains, as well as low investment activity and stringent loan conditions. It is evident that some hope is to reduce inventory, which eventually should prompt companies to increase production, loading and employment of staff. With regard to inflationary pressures, the Committee believes that it will be moderate because of problems with economic growth. It was also indicated on the conservation programs for the redemption of bonds at the previous levels, although the redemption will be gradually reduced, and new infusion of funds is not planned. There are no explicit allusions to the possible increase in rates in the near future, we in the communique did not see.

Thus, the overall situation in the market remains relatively positive, and in the medium term we expect further growth. However, in the near future, because the market is overbought local and higher we could not pass, you can expect a high probability of correction to the level of the main trend is up.

Today :

Leading global markets declined on Wednesday: German DAX -0,13%, Britain's FTSE -0,06%, DJIA -0,83%. Asian markets this morning, also mostly reduced, but the Japanese Nikkei225, after a long break, shows 1,49%. Futures on the S P500 decreased by -0.08%.

Pair EUR /USD is in the € /$ 1,4732, and USD /JPY - in $ /#165; 90.74. Gold is worth $ 1.011,28 per troy ounce, silver - $ 16.83 per troy ounce, copper - $ 6,135, and nickel - $ 17,540 per metric ton.

Yields for UST-2 0,96; for UST-10 3,40.

Oil prices over the last 24 hours were down $ 2.55 to $ 67.54 per barrel varieties Brent.

Futures RIU9 the night session was closed at 122.275 points (-0.31%).

At 12.30 GMT in the United States there are data on the number of initial applications for unemployment benefits (Initial Jobless Claims, forecast 550.000), and 14.00 GMT - data on housing sales in the secondary market (Existing Home Sales, forecast 5 , 35, an increase of 2,1%).

So, today we are waiting for lower quotations of securities (although the possibility of rebound in the second half of trades is not excluded).

MICEX (Daily):

Short-term objectives for the correction of the MICEX Index - 1150 points on the RTS index - 1180 points
Review of the FOREX market for 23.09.09
European stock platform demonstrated differently directed momentum on Wednesday
Today, trading on the euro will be in the range 1,4640-1,4840 dollar
Ukrainian trade unions are opposed to intervention of MFIs in domestic politics
Tax officers do not give VAT
Big oil traders reduce supply to Iran in relation to possible U.S. sanctions
World Bank approved a large-scale loans
METALLIST reluctant

Every tenth hryvnia Discontinued deposits for the period of crisis, has become the gold. And just ...