Russian stock indices are trading under pressure
The Russian stock market is trading under moderate pressure on Tuesday, while in suspense for news on sanctions from the United States. Before trump has extended the anti-Russian sanctions imposed because of the situation in Ukraine, which definitely made the tension in the ranks of investors. Afternoon index Mosberg losing a sixth consecutive session, losing 0.33 percent, while the RTS decreases by 0.46%. In addition to local pressure, no support from the other sites, where players are hesitant to be optimistic in anticipation of news on trade negotiations.
Rouble continues to be traded without clearly defined direction, slightly behind the dollar, which tends to RUB 65,80 region, the Ministry of Finance published a plan of the March of the interventions on the Moscow exchange within the framework of fiscal rules – the volume of purchases of foreign currency from March 7 to April 4, will be increased to 310 billion rubles, which is 1.6 times more than last month.
It is noteworthy that the ruble is not responding to the news, mostly because the players were ready to increase the size of interventions. The more that the average daily volume of purchases to remain below the January value.
Important factors of pressure on the Russian currency is not observed, although the failure of oil prices to develop the growth of definitely acts as a deterrent. But a much greater impact on the ruble and Russian assets in General, now have a fear of exacerbation of the theme of us sanctions. In this regard, the pair dollar/ruble in the near future is unlikely to infringe a mark of 65.50 RUB, especially given that the dollar continues to strengthen on Forex.
____________________ Gennady Nikolaev
Academy of management Finance and investment