A trade war would support the dollar

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Index Mosberg today still tested 2,200 points, as expected. Other options from the ruble of the indicator, in fact, was not. The outflow of capital from assets of developing countries, the reticence of residents to the reforms in Russia and minor in the secondary OFZ market made the business – the market is creeping down and maintain the medium-term descending trading channel.
Now everything will depend on how far are willing to go the sellers: the technical picture allows to count on a slide to support at 2,175 points, market attitude this opportunity confirms.
For the RTS index the breakdown of the intermediate supports 1075-1080 points would mean an open for “bears” the road in the direction of 1050 points.
In the ruble as oil, there is increased volatility and pitching. The U.S. dollar closer to the evening went down below 64,0 RUB, but the chances of him returning is higher still serious. Given that global investors are, in principle, is not a very good idea of where you can go in a trade war, they will use yet secure currency (dollar, yen), and exit high-risk. In such circumstances, the dollar is able to gain a foothold in the range 63,50-65,00 RUB, where it will feel quite comfortable.
The shares of “M. Video” bad expensive second day in a row, paper still remains in the area of “sideways” 400-420 RUB, but now the technical picture does not exclude a re-break above the upper border of the corridor and later on, 422 RUB
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Anna Bodrova,
Senior analyst,
Alpari