Rmb Company: Slovenia Can Ask for Help

According to RMB Company's comments, positive expectations from the ECB meeting on Thursday and, to a lesser extent, from a similar meeting of the Bank of England, allow market participants to ignore some clearly negative news. For example, one of these days it became known that Slovenia, which entered the euro area in 2007, could become the 6th country of the euro zone, which applied for financial assistance to the EU. Problems with the country's budget began after granting state aid to the largest Slovenian bank Nova Ljubljanska Banka dd Prime Minister Janez Janša said that Slovenia is at risk of repeating the "Greek scenario", but the government "does everything to find a way out" and to avoid the need to seek international assistance. Somewhere we've already heard it, is not it? ..

Analytical department of RMB Company reminds that today the most important national holiday - Independence Day - will be celebrated in the USA. In this regard, market participants are "deprived" of the traditional macroeconomic environment for changing the number of jobs in the private sector from ADP and commercial crude oil from the US Energy Ministry. The lack of activity on the part of American banks and investors will also affect the currency trading that will take place today in the conditions of the "thin market". Market participants will continue to follow the comments on tomorrow's meetings of the ECB and the Bank of England. Speculative should pay attention to the publication of the value of the PMI index of the services sector of Great Britain at 12:30 (Moscow time).

The rate of the single European currency for the past day practically did not change from the level of 1.2600, although the behavior of the risky asset markets as a whole was characterized by moderate growth amid growing market opinion that central banks would be forced to announce new measures to support those suffering from the financial and economic Crisis economies. This suggests that a rate cut by the European Central Bank, which is expected on Thursday, is unlikely to be an incentive for the euro's appreciation, which, incidentally, is not surprising.

The pound sterling fell within 0.2% to 1.5670 on the pair GBP / USD against the background of weak data on the PMI index of the construction sector, which in June was 48.2 after May 54.4 (the value below 50 points indicates a decrease in economic activity (Production) in the relevant sector), although the statistics on lending to individuals and mortgages turned out to be quite positive.

European stock indices DAX30, CAC40 and FTSE100 added 1.26%, 0.96% and 0.83% respectively, their American "counterparts" S & P500 and Dow Jones weighed by 0.62% and 0.56% respectively. Data on industrial orders in the US rose for the first time in 3 months, which also supported a positive attitude.