Investors are waiting for the start of the reporting period of U.S. companies

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The expected growth of the Russian market at the opening of trading on the background of the rebound, 1.5% and higher, futures on global stock indices after falling more than 5% over the past two days. Investors calmed down after criticism of the US President to the Federal reserve about higher interest rate. However, next week will be published the report of the Treasury of those countries that manipulate their currency to obtain economic benefits.
Despite the fact that the Treasury has previously said that he sees the manipulation of Renminbi by China, investors do not know what conclusions will follow from the U.S. Treasury in terms of trade war. This will keep the tension in the USD/yuan.
Then, as the ruble strengthened, along with all emerging currencies. We believe that the basic movement of world stock markets will begin in the second half of the day will be published statements for the III quarter of leading American banks. Forecasts indicate an expectation of weak results due to a trade war between the US and China.
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Viktor Veselov,
Chief analyst,
JSC “GLOBEXBANK”