Review of the world’s major financial markets from December 23, 2014

Most stock indexes continued to move in the «Christmas rally» on Tuesday. Pulls out of a rut only the Hong Kong Hang Seng (HSI), at the end of trading day down 0.4%. Meanwhile, Britain’s FTSE added 0.18%, while the German DAX — 0,13%. US stock indexes showed contradictory dynamics.

In the currency market was quiet, although the US currency is not going to take positions and ranges in the area recently highs. From news worthy of attention, it is worth noting the failed second round of elections in Greece, which brings the resignation of the current government. However, the currency virtually ignored the event. But data from the US could only strengthen the position of the dollar in spite of the rather weak performance of orders for durable goods, a sharp increase on the revision of GDP for the 3rd quarter (5.0% vs. 4.3%) was in the spotlight. Increase was due to an increase in consumption and in investment that promises faster growth in the US longer term. As a result, USD / JPY all day trying to gain a foothold vyshe120,00 that she was able — 120.70 at the close. EUR / USD was trading dangerously close to the support at 1.22 against an empty economic calendar, and during the US session break below, to close at 1.2170 area. GBP / USD in the morning was defeated very weak GDP data for the 3rd quarter, which significantly fell short of expectations (2.6% y / y vs. 3.0%). And then in the case entered and US data. Couple reaches a minimum 1.5484, but retreated to the area of ​​1.55 at the close. USD / RUB, meanwhile, continued to slide down, opened trading at 55.04, and even during the bidding reached nearly 3-week low of 52.54.

Crude oil futures started the correction of the minimum levels of the previous trading session. In the morning, the market there are new comments by OPEC: according to Arab oil producers, oil prices by the end of next year, will return in the range of $ 70- $ 80 per barrel. In the evening, strong data on US growth rate supported by market expectations that the recovery of such a large economy and support the demand for energy. Brent opened trading at $ 60.07, and touched a low of $ 59.83 a local and bounced around $ 61.70 to close.

Precious metals have stabilized at lower levels after sales observed on Monday. As a result, XAU / USD closed at around $ 1170 per ounce and silver — went to 15.65.

Forecast for Wednesday, December 24


Gold prices on two consecutive days are under pressure, and it is not surprising, given the «Santa Claus rally» in the stock markets, as well as the sharp appreciation of the US dollar, supported by strong US data. A recent report on GDP, confirmed the investment and consumption growth in the third quarter, which again gave the XAU / USD recovery from 3-week lows. However, it is possible that today’s thin market, the economic calendar is empty, so attractive to low levels and in anticipation of a long weekend asset may try to re-establish in the correction. If the breakdown of $ 1,183 per ounce is confirmed, it will be possible to wait for the return of more than $ 1,190 again.

Stock market

Recently, the Russian stock market has stabilized, thanks in part to the strengthening of the ruble and stop falling oil prices and partly due to a technical correction after a long period of decline. Together with all found a foothold and shares Yandex (YNDX) — the most popular Russian search engine. Incidentally, landslip asset sales, though kept up with all of the domestic market, but were largely due and pessimistic forecasts of the company’s profits.

Unfortunately, despite some positive aspects, which are more favorable economic conditions, would be given shares YNDX sharp jolt up the majority of the market participants consider the prospects of search engine bleak. For the most part, due to the developing downturn in the Russian economy. For example, it was reported that Mozilla is changing its strategy in Russia and now will set the page «Yandex» as the default search engine, replacing the well known Google. This event is in the long term is a positive for the asset, but does not currently have a large impact on the share price, given the success of its own browser «Yandex», as well as the dominance of the browser «Chrome» in the Russian market. The company remains profitable: in the last quarter, it showed an increase in revenue to 1.393 billion dollars. However, it is still lower profits last year, and prospects for further development are vague in terms of cost optimization and cost reduction, which implements the Russian corporate sector. Thus, it is worth noting that for long-term investors the current low levels look very attractive asset for shopping, but we have to admit that the wait for the strengthening of the shares may have for a long time.

Foreign exchange market

The ruble has recovered to a maximum of more than two weeks of levels, forcing the market to wonder how long we will see a similar trend. It is worth noting that the drop in USD / RUB affected several favorable factors. Although in many ways is the role play and to stabilize oil prices, and the approximation of tax payments, provoking a demand for the national currency, the ruble main reason is probably the intervention of the state and the agreements that have been achieved in recent years with major exporters. According to unconfirmed reports, the volume of currency sales per day is $ 1 billion, and participate in the five companies of the gas, oil and diamond industries. This form of soft capital controls can continue to support the position of the ruble. Thus, it is possible return to the area of ​​a pair of 50.00 in the coming days.

With regard to the global currency market, calendar of events is so poor, and the number of bidders is so small that we doubt we will see sharp currency fluctuations during the day. Standing of economic reports only data on the number of applications for unemployment benefits in the United States. Pay particular attention to the 4-week moving average, which is kept below 300 thousandth mark for three months. If the index crosses that mark and in the current report, it may be a bit to support the demand for the US dollar.


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Review of the world's major financial markets from December 23, 2014 | Web Trade For All - Forex trading, analytical reviews of the market and help for beginners