2013/10/18

The attention of investors switched over to macroeconomic statistics

Following the results of the trading session, the indicator of blue chips Dow Jones Industrial Average went down on 0,01%% to level of 15371,65 points, the index of the wide market Standard & Poor's 500 increased by 0,67%% to a level of 1733,15 points, and the index of high-tech industries of Nasdaq Composite went to plus on 0,62%% and reached a level of 3863,15 points.

Data on industrial production and the number of started constructions weren't published yesterday, but the weekly statistics on number of primary requests for unemployment benefits showed small decrease, from the reconsidered 373 thousand to 358 thousand, but nevertheless this decrease was weaker than expected 335 thousand.

Yesterday we had an opportunity to observe in the market classical scheme "buy on hearings – sell on the facts". As soon as the USA declared the decision, the markets ceased to support the American currency. As a result, EUR/USD finished trading day around the level of 1,3670, and GBP/USD – around 1,6150.

EUR/USD got good support not only due to technical correction, but also in connection with news that the Chinese rating agency lowered the status of a sovereign debt of the USA from A to -A. Pair reached a minimum at 1,3515 then announcement of restoration of work of the American government was done, however right after that started to grow. As a result, currency reached its maximum at 1,3675.

One more interesting development could be observed in the gold and silver market. The most interesting moment is that prices of gold punched upward a bearish corridor from 28th of August 2013. Considering that the stop of activity of the government caused to the USA economic damage, FRS at the meeting at the end of the month won't decide on reduction of the program of monetary easing. In November are going to start discussions regarding  Janet Yellen taking her post as a head of FED,  madam Yellen will defend for certain adaptive monetary policy that will give support to gold. This morning gold is decreasing for 0.41%% having traded on a price of 1317,47$ per troy ounce.



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