Russian stock market falls at the mercy of external negativity
The Russian market sags on Thursday. The trees do not grow to heaven, before it was clear. On the eve of the index Mosberg updated highs today, as the factor of pressure has worked as a high degree of summary and a marked deterioration in the external background. As a result, ruble indicator is reduced and returns to the area of intermediate supports 2470/2475 points. Under it there is a strong support at 2450 points, and breakdown the bears will become more aggressive. The RTS index konsolidiruyutsya about 1180 points and also looks overheated.
Short-term trading corridor for the index Mobimii is 2460-2485 points, RTS index – 1170-1185 points.
Euro/dollar in the second half of the day. First, the Venezuelan events alarmed investors and increased interest in safe assets. Second, today’s statistics from the Eurozone preliminary value of PMI for January was weak. Thirdly, the ECB confirmed that rush the bet will not be until the summer there is nothing to dream of revising it to increase. Oil is also in the red.
The Russian ruble, however, all is not a hindrance, it today continues to consolidate in a basket of currencies. What it is: a local carry trade, part two? It may well be, especially as currencies of other emerging economies are falling today. USD will conclude the session on Thursday within 65,80-66,45 rubles., Euro 74,60 corridor-75,35 RUB as soon As the market drivers will be excluded the factor of the tax period, and investors will be determined with the emotions about Venezuela, ruble pair will return to a more logical fluctuations. There is a chance that yesterday and today the Central Bank bought in the domestic market very little currency. It also could to support the Russian ruble.
Senior analyst at information-analytical center,