Yesterday the Federal Reserve once again reduced the rate by 25 basic points. That caused the bear impulse on dollar on forex and the bull impulse at stock exchange.

The dollar tested the next price low on euro in spite of the fact that decrease in the rate was expected by the market. The overwhelming majority of analysts did not doubt that FRS would again dip the rate after a series of negative news on the market of the real estate and industry. However, what is bad for dollar is good for the financial markets of the USA

On results of yesterday's trading session the American stock market grew owing to reduction in the federal funds rate and also to FOMC statement that the pressure caused by the crisis phenomena in the market of mortgage lending, weakened and the current macroeconomic statistics specifies firm growth of the US economy.

Rise on gold and oil prices by 4,6% on a background of data about drop in its stocks in the USA led to growth of shares of the mining and energy companies, including Newmont Mining Corp., ConocoPhillips and Chevron.

Nasdaq index rose during session up to a seven-year top due to growth of papers of the technological companies such as Google Inc. Google quotations increased on a background of messages that it can enter phone market soon.

A situation on world oil exchange platforms put essential pressure upon the dollar. The price of oil barrel has almost reached a level, which seemed fantastic in the beginning of year - a level of 100 dollars a barrel.

Today quotations of oil futures at NYMEX tested a level of 96 dollars a barrel after an issue of data about week stocks of mineral oil in the USA which showed unexpected decrease. The EIA Head Gi Caruso declared that if OPEC does not raise a level of oil recovery - oil stocks in the USA will be reduced even more, and as a whole the world market will feel sharp deficit of oil in the beginning of next year.

At September session OPEC participants agreed about increase in an oil production by 500.000 barrels a day since November, 1st, 2007. OPEC following session takes place on December, 5th in the United Arab Emirates.

According to results of Reiter’s survey the volume of oil recovery of ten OPEC countries limited by quotas, operating for all members of cartel except for Iraq and Angola, grew by 60.000 barrels a day in September, 2007 in comparison with August up to 26,8 million barrels a day.

The general traders’ mood is still against dollar. Any negative on the basic data over the USA will cause stronger bear reaction against dollar and less expressed bull reaction in case of a positive of news over the USA. Therefore we advise to abstain to be against a trend at an issue of positive news over the USA, while we remain outside the market.