World markets are revising their attitude to risk in the upward

These corporate reports of U.S. companies, which after a meeting of the Fed are the focus of investors on Thursday had a visible support to sector on vysokoriskovannyh assets. According to yesterday's information Lennar Corp., One of the largest American construction company, received her orders for the erection of new housing in the II quarter. TG increased by 63% (to /k) and profit was above analysts' average forecasts. Earnings per share of one of the leading U.S. retailers, Bed Bath Beyond Inc., For the same period amounted to $ 0.05 - $ 0.05 expected by analysts in this case, First Call. It is obvious that these facts, which reflect the current situation in the critical sectors of the U.S. economy, supported by expectations of players at the beginning of recovery in GDP of America is already in the second half of 2009

It is important to note also another successful deployment of U.S. trezheriz, also held on Thursday. Increased demand for U.S. debt instruments of the world's largest Central Bank, resulting from increased international cooperation in crisis management, reduces the pressure on American finance decreasing, thus, the medium-term inflation risks in the global economy.

Against this backdrop, investors positively to information about the Fed beginning a gradual reduction of financial support for mutual investment funds operating in the financial markets. Investors are now inclined to regard this fact as a factor indicative of the greater macroeconomic stability in the United States.

Against this background, under the influence of activation of purchases in the carry trade, quotation EUR /USD yesterday returned to a position above 1.4000 marks, which generally implies a further increase rate of the currency pair in terms of the short term.

However, it is typical for this background is as preserving the course of American currency, the Swiss franc and the yen mark near highs reached USD during the week.

improvement in the American economy creates the revitalization of monetary expansion in the country, the industrial city which is export-oriented. In the absence of prerequisites for external growth, first of all, the American demand, such policies would be ineffective.

In this regard, in terms of prospects for the coming months, to allow continued growth rate of American currency in the FX, even if conditions remain favorable in the whole situation in the segment of the risky assets.

Markets revise its attitude towards risk upward, increasing the attention of operators to the total dynamics of macroeconomic and financial statistics of countries that are at the moment, the leaders in the process of economic recovery. Against this backdrop, the market will look better than it is an American financial and investment segment.

The development of this situation may be reflected in the dynamics of quotations of Russian currency on the international market. Reduced rate for bivalyutnoy basket Bank of Russia and the USD in the coming months may continue, even in the face of improving the performance of financial markets of Russia, as compared with the current period.

As of 11:30 Moscow time today, the value of Russian currency stood at 31.12 rubles. to the dollar and 36.84 rubles. per unit basket CMAO. Yesterday, on the morning auction, these figures were respectively 31.22 and 36.75 rubles.

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