Tuesday, May 26, 2009

IC "MCC": Forecast. The market suffered a correction

Tuesday began hesitantly. Factors complexity medium term (including the decline in GDP) began to play into the hands "Bear" in a small perekuplennosti index RTS. Oil today reiterated the drop-down movement of electronic trading Monday on the rebound in the dollar and fears that OPEC will not change (not reduce) production quotas at a meeting in Vienna on 28 May. The dollar strengthened slightly against the ruble, which is fixed at the rally to support the euro and the aggressive position in North Korea. The latter continues the rhetoric about continued rocket launchings after yesterday's underground nuclear test. Japan has lost on the 0.39%. Europe has opened in the negative, that does not meet the expectations of Russian investors on Monday evening, triggering correction ..

Europe opens negatively after Asia and the data on consumer confidence in the United States. The index of business activity in Germany rose from 83.7 to 84.2 in May (expected 85) on Monday. On Tuesday in the United States goes Schiller house price index in the 17 and 18 consumer confidence (score increased from 39.2 to 43).

We believe that the previous rally will rely on MICEX 1002-1013 and expect a positive opening of the environment - the situation on the Futures in the United States does not extradite a strong negative feelings. In addition to consumer confidence, investors are awaiting the outcome of the Treasury auctions on Tuesday and Thursday

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