may be better to sit out tomorrow's cache …

In the first half of the session were quite bezydeyno trading on expectations of the reading of the States. Purchases were moderate and were associated with the growth of European indices to improve the situation in the UK housing market. Has unfolded, however, futures on indexes United States halted the growth in the Russian market and the ruble have brought the indicator in the red zone. The first portion of the United States in statdannyh 16.30 Moscow time. were mixed, which caused mixed reactions in the market. The negative data have been revised, which provoked a wave of sales: the labor productivity in the first quarter grew by only 0.3%, rather than 1.6% as announced earlier, labor costs fell by 2.7%, rather than increased 3%, as previously announced.

The response to the data was fairly muted, since the expectation of wholesale stocks constrain market participants to action. Before leaving speculators preferred to fix profit, while reducing futures on S P500 index below 1000 points, only reinforced this trend. Published at 18.30 Moscow time. data almost in 2 times deviated from the forecasts. However, theresult is mixed. Reduce overstocking can be interpreted as a reduction of production and increase consumption, and seems to have market participants do not have a clear assessment of the statistics.

reason for sales tomorrow may appear to the commodity market where oil futures are traded at low levels in anticipation of the publication of data on oil and petroleum products the United States. This morning, the positive trend observed in the futures on oil brand Brent, but the increase was largely ignored market participants. The mood in global stock pads still be determinative, notwithstanding the commodity orientation of the Russian economy. In the second half of session, oil futures sharply proseli Brent brand, which has increased the potential for the fall in anticipation of the statistics.

Tomorrow the session will be saturated with the publication of statdannyh. Attention is paid to data on the labor market, the UK, Eurozone industrial production, trade surplus dollars, and after the closure of the Russian market will be presented to the Fed decision on rates also interest the Fed comments on this issue. Saturation of data on the one hand increases volatility, because the participants will be otygryvat deviation from these expectations and, on the other hand, waiting for the next portion of data will deter market participants from the action. Thus, tomorrow's session is either to wait in the cache, a speculative otygryvat reading statdannyh.

Worse market today appear to share the oil and gas structures in the dramatic collapse in oil futures. Shares of oil and gas companies have a strong level of support that may be holes in the case of strengthening of the negative sentiment, but more likely to retain these levels and the subsequent turn.

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