Market Analysis

Statistics do not help "bulls"

Today, trading on the Russian sites have opened with "gepom down, which resulted in the market went below the level of 1390 points on the MICEX index. During the first half of the trades remained negative dynamics, resulting in the market left by the January lows. In anticipation of release of macroeconomic statistics from the U.S., the market slightly adjusted. Statistics supported the buyers, but after a wave of growth, which led the MICEX index for the morning "gepu, reduction resumed. As an outsider market Mosenergo and VTB, whose losses have amounted to more than 4,5%. It is better to market the shares of Rostelecom, which could add 1.2%. As a result of trading the MICEX index lost 2.9%, ending the day at 1,355.4 points.

first half of the day "bears" surely kept the market in their hands, aided by the negative dynamics in the foreign markets and shares in energy prices. Before the release of statistics, the observed correction was associated with the closing of short positions in connection with the apprehension out of positive data and the rapid reversal. As a result, the unemployment rate fell to 9.7%, was able to support the markets, but the positive effect was short-lived. Perhaps the players started to reassess the possibility of increasing rates of the U.S. Federal Reserve, whose representatives have repeatedly stated that the labor market of the current situation is important in determining future action control in monetary policy. If the probability of a rate hike would put pressuredcdon the markets in the short term may continue to decline.

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