up or down - the question of macroeconomic data

Today, trading on the Russian sites have opened lower quotations. In the first half-hour trading the MICEX index went right up to the level of 1390 points, after which, amid growing European markets, the restoration of the quotations, which brought the index into positive territory. But in the black market could not resist a new wave of lower indices returned to the morning lows, from the middle of the day the market was able to partially recover. In leaders reduction Norilsk Nickel and Surgutneftegaz, losing 1,8% and 1,7% respectively. Uralsvyazinform traded in positive territory and Gazprom, then adds about 0.6%. By 14.30 the MICEX index fell by 0.55%, down to the level of 1400 points.

Despite attempts by the “bears” to break the level of 1390, the market managed to keep above that creates a good base for an evening of growth, which is possible in the event of positive macroeconomic data. The focus, of course, will be drawn to the U.S. gross domestic product (GDP, expected 4.7%, the previous value of 2.2%) for the fourth quarter. Support of this indicator, can seriously push the market up. If it seems much worse than expected, “Bears” will be able to push the level of 1390 points, dashing all hopes for growth. In this case, may be to reduce the level of 1290 points, and the nearest support for the market will provide the level of 1360 points on the MICEX index.

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