Financial News and Economical Crisis

According to yesterday's data, retail sales in the United States in September 2009 declined in monthly terms, by 1,5% (m /m) with an average forecast of the dynamics of this indicator is equal to -2.0% and its value in the previous month, revised from an increase to 2,2% (m /m) vs. -0.2% previously. The U.S. price index for imported goods last month was -12.0% compared with the average analysts expected value is equal to him -11.4% (g /g), and the previous forecast of this index, constituting -15,3%.

medium-term inflation risks in the U.S. economy continues to remain very discreet, which will ultimately have a positive impact on the global sector investment in corporate securities, even in a recession in terms of expected revenues of leading companies.

Open Market Committee Federal Reserve survey released yesterday, the September meeting for the first time in the last few quarters the improved macroeconomic situation in America. However, many members of the FOMC indicated that the U.S. economicrecovery will be very slow. Borrowers are still difficult to get access to credit, and this situation is expected to improve only gradually.

Against this backdrop, the Fed reiterated that it intends to maintain low interest rates. In addition, several representatives of the Committee made for the fact that the increase from the current level of $ 1.25 trillion., The volume of the existing buy-back program Fed mortgage and agency bonds. This solution would help reduce the negative trends in the economy more quickly, noted in this case.

Against this background of the American currency on FX yesterday continued decline. Quotations EUR /USD this morning near the 1.4950 mark test against 1.4840 at the opening of the environment and, despite the short-term technical overbought, appears to retain the growth potential in its week-long trend.

ruble RF to the USD and the currency basket on MICEX today to 10:00 Moscow time was 29.32 and 35.87 rubles. against, respectively, 29.45 and 35.93 rubles. in morning trading on Wednesday. In the short run may be a decrease of quotations of Russia's currency to the dollar, influenced by technical factors, as well as on the background of increased sales of national currencies by a number of leading Bank. Medium-term prospects of cost RUB respect, above all - to the USD, and still appear to bear in nature.

However, due to the continued high rates of price growth of financial markets in Russia, and against the background of continuing low inflation rates of Russia, the scenario is relatively significant weakening of currencies of Russia in the international market may be delayed. The achievement rate of USD /RUB in the IV quarter of this year marks in the range 28,00 - 29,00 at the moment looks possible.

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