Markets  |  March 20, 2013 08:40:00

Morning comments and a summary of the most important events The stock market should be opened up today, thanks to the declaration of the European Central Bank (ECB) that it will continue to provide limited liquidity of Cyprus, which apparently causes investors to buy up shares recently weakened. Cyprus yesterday refused to participate in financing international loans through taxation of bank accounts. 36 out of 56 deputies voted against the loan under conditions defined by the European Union. Cyprus so far to come for a loan of 10 billion euros.

German Finance Minister Wolfgang Schaeuble said he regrets the decision of the Cyprus and knows how Cyprus can fend off impending insolvency.Cypriot Minister of Finance Michael Sarris visits Moscow today and will try to arrange other financing options. Banks remain closed today.

Investors today will focus mainly on the speech of the Minister of Finance of the United Kingdom George Osborne, who will present the British budget for this year. Expectations are unclear. Britain remains either a policy of austerity measures after bad economic data, or begins to spend more to kick-started the economy. The central bank of the United Kingdom (BoE) also published the minutes of its last meeting.

In addition to Britain today, investors will also focus on the end of a two-day meeting of the monetary board (FOMC) of the U.S. central bank (Fed). Interest rate decisions will be announced at 17:30Press Conference of President Ben Bernanke starts at 19:15.

German producer price index (PPI) for the industry in February increased by 1.2 percent compared to February 2012. In annual measurement improved by 1.7 percent and only mom measure lost 0.1 percent.

EUR / USD is still not significantly into motion. Yesterday lived to see Eurodollars weakening, after which, however, created a bullish divergence on the market reacts strengthening. Once again, we return to a downward trend channel. Trend remains bearish, as evidenced by the position of moving averages. The most important resistance 1.2950 is the price.

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