Reducing energy consumption in the United States makes oil to get rid of its commodity contracts
Jul 2nd, 2009 | By admin | Category: News and CommentsThe day ended in the red zone, regardless of the data
On Thursday, opened with a 1.5% gepom down, the day the market remained in a state of uncertain balance, when the waves are replaced by shopping sales. All external factors have contributed to strengthening the positions of the market bears. Here the first violin plays a decline in oil prices (Brent $ 67,45; -2%) /MICEX index for dinner already lost 2.2%, thanks to shares of banks and neftyanki. A separate issue - a dynamic but short-term growth of metallurgists, we do not take seriously.
Stock Indexes in Europe today is in red zone. Unemployment in the euro area (9.5%) in May reached its highest level since May 1999 Is not that a reason to fall into despondency in anticipation of similar data from the States.
The technical picture in oil prices is still very weak. Reduce consumption of energy in the States, as well as the probable suspension of replenishing its oil reserves by China raises oil to dispose of its commodity contracts. Quotations mixture Brent now remained an important support level at $ 68.1 per barrel. Now the immediate goal of the fall can be a level of $ 67/barr.
I think that today's meeting in Luxembourg, the ECB does not expect anything serious and intriguing. The rate in the euro zone remain at record 1% by minimum, most likely until mid-2010. In here the data on unemployment in the States think prepodnesut market next nasty surprise. This applies both to data on unemployment, and the NFP. Although generally neutral, even positive data does not change the overall negative mood on the stock exchanges today. That is why our recommendation is: to monitor the data from the U.S. 16-30, while in the cache.
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