Wednesday - a crucial day of the week

Sunday, traditionally considered a watershed trading day of the week. Movement of Russian stock market indices today confirm this rule. If up to 12 hours we have seen 1.5% drop in the RTS and MICEX indexes, then after lunch, the situation has changed radically, and by 15 o”clock they have grown on 0,5% and 0,7% respectively. On the MICEX, the leaders of growth today, the electricity companies (MICEX PWR 1,55%) and chemical (MICEX CHM 2,2%) sectors.

We can assume that our market after the violent fall of the last few days is beginning to build positions for a new uplink. It may be that the overseas stock indexes will be ready to rebound up clearly as yesterday, for the first few trading sessions of their market reacted positively to the upbeat economic output makrostatistiki.

So, the technical correction of oversold market ripe. Consumers are gradually purchased from the market or undue fallen Paper (Rosneft, Lukoil), a fundamentally strong (WGC). All is good, but the way this movement can stand up a possible strengthening of the dollar against the euro to 1.38.

By the way, the revival of buyers today and supported by the currency market. In the morning we saw new record levels of falling prices on the Greek state bonds. Yields on 5-year bonds today rose to Greece 6,1%, compared with 2.31% of Germany”s. Aggravation of the debt problems of a number of countries united Europe affected the weakening of the euro, and the pair EUR /USD dropped to its lowest level since July last year (1.4020).

Today, overseas stock markets, too, will not be bored. On Wednesday, U.S. President Barack Obama will deliver a message to the nation. Perhaps, investors will hear new details of proposals to limit the banking sector, as well as measures to reduce the U.S. budget deficit. In the 22-15 waiting for decisions on the Fed”s monetary policy. Given the difficulties of re-election of Ben Bernanke as head Fedrezerva, the text of his speech can expect some intrigue.

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