20.11.2013- U.S. stocks ended yesterday's session slightly lower
U.S. stocks ended yesterday's session slightly lower. The main reasons for the sale were the statements of New York’s FRB President - William Dudley, regarding that the growth rate of the economy will rise in the next two years. At the same time, he noted that this does not mean an earlier reduction of quantitative easing program. His colleague, Chicago FRB President Evans stressed that the economic indicators in 2013 were not as good as expected. According to him, inflation is low, and it is expected to remain low, according to thisstimulative policy will continue until the economy recovers. Despite that the markets reacted negatively to the speech the members of the Federal Reserve. From a technical point of view, the growth is limited by 1,800 marks for S&P and 16,000 on the DJI. The nearest support levels are respectively 1,780 and 15,800. Trading session on the European markets passed quite sluggish. Among the macro was only the index of economic sentiment in Eurozone, which came in at 60,2, but did not meet analysts' expectations, but was better than the previous figure. As a result, we have seen a decline in European indices. Reducing the OECD forecast of global growth in 2014 to 3.6% from early declared4%, the data on the trade balance of Japan, which fell short of analysts' forecasts (-1.07 trillion. Yen) and the expectation of the correction in the U.S. restrain Asian markets from growth. As a result, we see that the indices were traded near the previous close levels. Since the beginning of 2014 Japan will launch a program of injecting money into the national economy, which already leads to a country's economic growth. But this policy is, of course, will keep the yen above the level of 100 yen per dollar. Now we are seeing consolidation on the yen. The nearest support levels are 99,60 and 99,20. The upward movement is still limited by the resistance line at 100,40. EUR/USD has overcome 1,3540 level. Stable growth of quotes was provided by the statements of American politicians on firmness of quantitative easing, at least in the near future. The range of price movement of the pair has been limited by levels 1,3470 and 1,3650. The course of trading today will be affected by the data on the consumer price index in the U.S. (13:30 GMT), and the publication of the minutes of previous meeting of the FOMC. GBP/USD continues to move in the corridor 1,6060 - 1,6140. Players await the publication of the letter of the Bank of England on inflation, which will be released today during the day. Depending on the content, the price may come out of this price range. In the meantime, pound looks very confident against other currencies. The index of leading economic indicators for Australia increased by 0.1% compared with a decrease of the same 0.1% in the previous period. Australian dollar slipped considerably, but continues to move within the local rising channel. In case of further movement in trend the price could reach 0,9470, in case of exit downwards from the channel, next support levels are at 0,9360 and 0,9320. Oil prices continue to fall gradually. Reducing tensions around Syria and waiting for settlement of the issue of Iran's nuclear program allow us to expect a further decline in prices. Concerns about the oil supply disruptions in Iraq and Libya cannot keep prices from falling. Central news for oil today will be the publication of data on changes in stocks of crude oil and petroleum products in the U.S. (15:30 GMT). At this time, experts predict a decline in stocks by 0,2 million barrels. Light Sweet Crude Oil is trading at the upper boundary of the descending channel. We expect a decline to the level of 92,60. In case of braking channel upwards the price movement may reach 94,20 and 95,20. The price of gold trades in the range of 1265-1290. The course of trading today can be influenced by protocols of the U.S. Federal Reserve meeting. In the near future prices may increase because of another postponing the reduction program of quantitative easing. Stabilization of the situation with the capital outflow from the "gold" funds, will support the bulls during the next weeks.