The Whole World Expects Optimism From FRS Decisions

The American trading session ended by reaching a new historical maximum. S&P 500 updates it record the third session in a row, whilst NASDAQ is on a maximum level since September 2000. Again, weak statistics have been giving support to the markets, and were pushing indices to go up. Retails in the US decreased in September by 0.1%, when growth of 0.1% had been expected. The index of consumer confidence of Conference Board fell to 71.2 from 79.7.

It is natural that the published statistics are leading investors to buy more before the FRS meeting. The majority of participants of the market don't expect any changes in the volume of the quantitative easing program. It is also worth bearing in mind the prices of houses. The S&P/Case-Shiller index in August showed a rise of 12.8% in prices for residential real estate in 20 main city formations of the USA. The August price grew by +0.9% alone.

The Asian markets are also full of optimism. MSCI Asia-Pacific in Tokyo rose by 0.5%. Industrial production in Japan grew in September. This morning the Nikkei 225 grew by 1.03%, and Shanghai Composite adds 0.76%.

As for the commodity market, Gold is not moving, and seems to be waiting for the FRS decision. Quotations decreased on Tuesday, and this morning Gold is traded on the price of 1346.27$ per troy ounce, adding 0.06%. Even reserves of SPDR Gold Trust didn't change. Oil is also decreasing, the second day in a row, especially Light, having lost 0.44% and is traded on the price of 97.77$ per barrel. Brent is up by 0.12% at a price of 109.14$ per barrel.

Today, it is necessary to pay attention to the following macroeconomic events; unemployment in Germany, indexes of expectations and business climate in the Eurozone, the indicator of employment of ADP Services, data on consumer inflation in the US, data of the Ministry of Energy of the US on stocks, and consumption of oil and oil products. The main event of course, being the results of the Fed meeting, which have been awaited by participants of the market for the last two weeks.