Market update - 03.11.2011

FR has refrained from
changes in a policy

This morning the external background looks mixed enough. The American indexes were closed in plus, having added on the average 1,2 %-1,6 %. The encouraging rhetoric of head of FR has supported transatlantic players. Though it has been noticed that the forecast of development of economy of the USA has worsened: growth of gross national product of the country in 2012 will make not 3,7 %, but only 3,3 %. Interest rate FR of the USA has left at former level.

In Asia we can observe different dynamics: KOSPI decreases on 1,4 %, Hang Seng falls on 0,98 %, Shanghai Composite in plus on 0,85 %. Japan doesn't trade today in connection with a national holiday.

The prices for oil are again trying to correct a little. The yesterday's data from the USA has shown that oil stocks, according to EIA, have risen for the past week on 1,826 million barrels while growth on 1,070 million barrels was expected. Nevertheless, the price for "oil" still is at high enough level: the barrel of mark Brent bargains today at level of $108,73, Light is estimated in $91,59.

Today statistical data from the euro zone and the USA can have affect on the dynamics of the day. Data on number of primary references for unemployment benefits in the USA, also data on labor productivity out of agricultural sector, and index of business activity in non-productive sector will be published today. Markets still do not have any concrete directions and volatility increases.

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