Review of the world’s major financial markets from December 9, 2014

Again Asia set the tone, as the Commission for Regulation of China’s securities market has decided to limit the redemption of the Company’s debt securities only, rating of at least «AAA». This led to a massive closing transactions for Chinese bonds and sent the Hong Kong Hang Seng (HSI) down 2.0%. Britain’s FTSE weakened by 2.14%, while the German DAX — by 2.21%. US stock indexes showed contradictory dynamics.

Meanwhile, the dollar continues to incur losses on Tuesday, helped by the absence of important economic reports, as well as repositioning before the impending December Fed meeting. USD / JPY slipped lower, partly on Asian stock indexes fall, reaching week low of 117.93. EUR / USD broke above 1.2380 and continued upward movement, noting 1.2447 and closed in the area of ​​1.2390. GBP / USD hit by weak data on industrial production, which showed a reduction in the manufacturing sector by 0.7% vs. + 0.2%. However, the pair quickly recovered, touching 1.5716 n general weakness of the US dollar, and closed in the area of ​​1.5660. USD / RUB began trading at around 53.84, immediately noted the daily maximum of 54.30, after which most of the day trading around 54.20.

OPEC representatives continue to wage a price war with the United States: after Saudi Arabia discount for Asian buyers did and Iraq, and the maximum price Uraz over the last 11 years pace. Both countries — the largest oil producers in OPEC. No wonder that opened yesterday Brent traded at around $ 66.52 and for a few hours reached the next 5-year low of $ 65.76, after which, however, bounced back to 67.10 area under the closing of trading days.

Precious metals continue to benefit from the weakness of the dollar and the market sentiment. A series of rather weak economic data has stimulated demand for XAU / USD aversion to safer assets. Gold struck resistance around $ 1214 and continued upward movement, reaching a peak in late October at $ 1238.15 per ounce.

Forecast for Wednesday, December 10

Commodities

Gold futures were again pleased with its dynamics, as the precious metal positively responds not only to large-scale weakening of the US dollar, observed the last few days, but in the longer term additional incentives planned European and Asian regulators. Add to this the continued and weak signals in terms of growth of the Japanese economy (-0.5% q / q instead of the expected 0.1% q / q) and low export volumes of China (4.7% y / y vs. forecasted 8.0 %). In such circumstances, the interest is not surprising portfolio managers that increasing the number of long positions for three weeks in a row. Watch for quotes XAU / USD in the coming days: the immediate goal on the way up will be around $ 1240, which at convincing the breakdown could trigger activation of buy orders with the further aim of the area in 1260.

Stock market

Despite the impressive technological collapse of shares of Russian companies, which lasts from the beginning of the year and has accelerated in the past two months, quotes, Yandex (YNDX) may be slightly adjusted in the near future. This assumption may serve several factors:

1. Technical correction: the negative factors in the form of falling oil prices and the downgrade «Yandex» by UBS already included in the price. In addition, today quotes Brent began to recover from the lows.

2. Approximation to a strong support level at around $ 19 per share. Last time these levels were recorded in July 2012.

3. Purchase «by Yandex» Service «advisers» who gave it all the time growing the company’s revenue, and the search engine representatives have decided that there is no more need to share part of the company «Metabar.» Service is a browser extension that analyzes the page you are viewing an online store and tells where you can make a purchase of the same product cheaper. The company said that the «Advisor» is further interest for integration with various services of the «Yandex».

Ready and quite promising product can sustain interest in the shares of the search engine in the coming days, although it is recognized that the Russian stock market is currently quite a risky environment. The current low levels can be used for short-term positions on the purchase with the immediate goal at around 23.00.

Foreign exchange market

USD / RUB held within a narrow range, not daring to update the highs even at sharp weakening of quotations Brent. In addition, the market is not ready for additional fire-sale of the ruble in relation to the impending trilateral meeting to settle the Ukrainian conflict. Initially, December 9 voiced as the approximate date of the meeting in Minsk, but now there is talk that happens all on 12 December. Up to this point in the market can hope to live a gradual de-escalation of the conflict, and therefore, if the ruble will fall, then at least more moderate pace.

USD / JPY has slipped over the past two days, nearly 4 figures, counting from the maximum to the minimum point. However, all these four figures have led to only a couple of week low, which is a fairly simple logical correction after a sharp strengthening of the US dollar is still unrealistic expectations for an early rate hike. However, without exception, it is clear that the trend for the pair remains upward and hold it for as long as the US central bank and the central bank of Japan did not change course of monetary policy on the opposite. So far, such an outcome is a very long-term perspective, which means that after the current correction is quite possible new surge of interest in short positions on the yen against the dollar. Thus, the observed decline should be used to search for a more attractive entry point for Long USD / JPY. However, this strategy has already chosen the majority of traders — note how quickly rushes up steam after reaching a new low.

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Review of the world's major financial markets from December 9, 2014 | Web Trade For All - Forex trading, analytical reviews of the market and help for beginners