2013/10/02

The markets are ignoring American budgetary problems

The yesterday's trading session confirmed confidence of participants of the market that political debate in the USA will soon end and won't render negative effect on economy. The American stock markets grew up for 0,4-1,2%%, the dollar remained under pressure, and the gold which wasn't demanded as a traditional save investment, failed for $40 to a minimum of two months.

The majority of the European trading platforms carefully bargains in a "green" zone, however this positive can instantly be replaced by sales against events in the USA. Apparently, investors still up to the end can't estimate the suspension of work of the government of the USA first time for 17 years. From now on more than 800 thousand civil servants will be sent on leaves that definitely will be reflected in the first economy of the world.

 In Washington museums and national parks yesterday were closed. Exactly at 8:00 o’clock in the morning, the police partitioned off with iron barriers all approaches to the Lincoln Memorial, on doors of the state galleries and showrooms announcements of termination of work "for the unknown period" were hung out.

The day before the budgetary office of the White house informed the staff of federal departments that all state institutions to the USA pass to an extraordinary mode. 90%% of specialists of NASA, nearly 70%% of employees of the Ministry of Energy and 50%% of civil servants of the Ministry of Defence are sent on compelled leave. On workplaces were left only the officials which work is recognized "the vital country’s safety". However, they won't get wages.

While in Washington no any forecasts are done regarding how long there will be a present budgetary crisis. Since 1976, US authorities 18 times declared partial termination of work of the federal government. Shortest of these crises proceeded only 24 hours, and the longest fell on Bill Clinton's presidency. In the winter of 1996 federal institutions in the USA didn't work for 21 days.

Main even of the day is speech of the Chairman of European Central Bank Mario Dragi with comments to the decision on an interest rate. We believe that his speech won't differ big optimism as euro gradually approaches to the upper bound of comfortable range for European Central Bank 1,2750-1,3700.

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