Appreciation of the ruble to the dollar and bivalyutnoy basket today at 30.64 and 36.58 rubles

Trading on FX in the final hours were marked by, above all, a noticeable increase in purchases in the carry trade, which quotes an active cut formed in the last few weeks behind in growth areas of the world's stock market, another important area of global investment in risk.

In this case, the main cause noticeable confidence bulls in the stability of the July price rally, are likely to be announced on Monday plans for U.S. regulatory structures to improve administrative support for bull trend in the financial markets.

American economic leadership meeting in the last quarter of the monetary expansion, obviously very interested in that means providing them with financial sector have reached its ultimate goal - namely, would lead to an increase in capital corporations that have been affected by the credit crisis, and limited, in these circumstances, the opportunities for developing their businesses. In parallel, it seems, seeks to curb the actual administrative processes, leading to an increase in inflationary expectations in the global economy.

Board of Trade futures market USA (CFTC) announced yesterday that going by late summer or early autumn to promulgate measures to reduce price volatility and speculative activity in commodity derivative markets. The current situation now, according to regulators, ultimately to the detriment of consumers and the real economy. In particular, in this case the topic of reducing the number of players of the commodity futures segment at the expense of smaller companies and private investors, as well as increase control over the structures administered by the course of bidding. On the other hand, the U.S. Commission on Securities and Exchange Commission (SEC) on Monday moved on a permanent basis it issued during the active phase of the current crisis to ban the disposal of unsecured short positions in the stock market. The validity of this ban was to expire on Friday.

At the same time, SEC announced that it was discussing other measures to curb the negative trend in the financial, stock market. We consider, therefore, imposed during the Great Depression of the restriction on the sale of shares prior to their first teak improve during the trading day, as well as the prohibition on the opening short positions after the asset price decline for the session more than 10% and other measures.

This situation, obviously, is favorable for the segment of the risky investment. Activities investors, however, is constrained in this case, uncertainty about the nature of the publications in the coming days, a large amount of U.S. macroeconomic statistics, including - American GDP data for the II quarter. 2009, however, experience has shown the past few weeks, this information may again be relatively favorable for investment and finance in nature. For example, according to statistics released yesterday, the volume of sales in the primary market of housing in the United States in June TG amounted to 384 000, with significantly lower average prediction and the importance of this index in the previous month, equal to, respectively, 350 000 and 342 000.

Against this background, influenced by the continuing, albeit diminishing, the positive correlation of exchange rate changes in the currency pair EUR /USD and the dynamics of quotations of world segment on highly risky assets, quotes the euro to the dollar in the coming weeks, may continue to increase, which, however, it seems, will be accompanied by a profound Bear correction. This medium-term risks of a marked decline in the relative value of the euro against the U.S. currency from current levels remained high.

Russian ruble to the USD and bivalyutnoy basket today by 11:30 Moscow time was 30.64 and 36.58 rubles. against, respectively, 30.82 and 36.63 rubles. Monday morning at the auction.

Technical factors, as well as a possible concern CMAO current pace of strengthening the Russian currency at the FX may soon provide it with weakening in the foreign exchange market.

However, in general, under the above situation in terms of weeks for quotations RUB against major world currencies to allow a certain period of stabilization.

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