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World markets  |  November 07, 2012 15:39:44

Brief situations Wall Street: postvolební opening 7.11.12


Wednesday's session could act as a sort of divide between the overtly political (electoral) factors having influence on markets so far this week and then should appear in a reflection of the economic environment in the U.S..

The main problem that President Obama will not rediscovered too much time on time-out from demanding election campaign, still clearly remains a phenomenon of "Fiscal Cliff". Already, the credit rating agency Fitch Ratings stated that in the sense that the president must realize (noteBut with the Republicans in Congress) a credible plan for reducing the budget deficit further to support economic recovery and confidence in full. Commitment to these fiscal changes will likely result in maintaining the status of AAA rating at Fitch Ratings. Any failure to achieve fiscal cliff solutions (or a combination of tax increases. Disturbance tax exemptions and mandatory cuts in government spending since January 2013) as part of the budgetary measures and $ 600 billion increase in the debt ceiling would in turn could be the reason for the downgrade in the next year.

The European Commission issued a worsened outlook for the EU economy in 2013, which is expected to grow by 0.4% and only 0.1% in the euro area. This year's figures for GDP sees it, it will be reduced by 0.3% for the EU and even the region of 0.4% for the euro area. While unemployment to remain at very high levels ...

Today is also important for Greece, as it has to implement exit poll Parliament for a vote of new austerity measures (according to plans Troika, respectively. International creditors). It has to do with the next steps in drawing the bailout tranche.

Pointer German industrial output in September fell by 1.8%, which was more than the expected -0.5%. The decline was driven by a 2.3% weakening in manufacturing (engineering) sector. To this can be added that M. ECB president Draghi said that the euro zone debt crisis is beginning to have the greatest impact on the economy of the region, namely Germany.

Other views on the subsequent development of the market, it can be said that to some extent there remain positive sentiment in the market due to the fact that the U.S. economy is creating new jobs (the latest figure was better Nonfarm Payrolls), there are signs of Asian recoveryeconomies and also the Fed can now expect a continuation of its policy of releasing QE 3 with open time constraints. This means that the current monetary and economic environment creates certain conditions for risk appetite and negative for the dollar.

According to the economic data calendar was reported according to MBA mortgage index with the number of -5.0%    (Previous figure -4.8%), after the opening of the markets will come to order oil and the state of U.S. consumer loans.

Continue to balance the financial results for 3.Q. and today issued reports from companies including HV over Becton Dickinson, Cognizant Technology, Devon Energy, Enbridge, Kraft Foods, Macy's, Melco Crown, Time Warner, WellPoint, and after hours it will be as Activision, CBS, CenturyLink, Kinross Gold, Qualcomm, Whole Foods Market.

Major U.S. stock indexes trading načínají election with these states: DJIA -1.36%, Nasdaq Composite -1.30% and -1.39% 500 Sp.

On the commodity markets, the NYMEX crude oil is on course $ 86.87 per barrel and the price of gold is $ 1,722.70 per troy ounce. On the Forex Cross Rates EUR / USD at 1.2751 limit.

The government bond market is a benchmark title 10Y Treasury Note yield came to 1.629%.

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