Russian stock market grows alone
On Monday the main stock indexes of the Old world show a mixed attitude, the negative bias prevails. Oil prices also traded mostly in negative territory after the storming of the peaks in the area of 63,60 per barrel Brent. However, this did not prevent the resumption of the rise in the Russian market after a small pause at the end of the session Friday. Index Mosberg and RTS increase in the range of 0.5%, that’s probably good, given the lack of support from the external background.
The ruble, meanwhile, is trading slightly lower against the currency basket. Dollar decided to start a new week with a recovery against most currencies, but in tandem with the Russian currency proclivities seem to be very modest and do not portend significant breakthroughs in any of the two directions in the near future.
Background support for the ruble and the assets of developing countries generally comes from the softening of rhetoric of the American Central Bank, which decided to postpone further interest rate hikes. This factor partially negates the effect of increasing the amount of intervention of the Ministry of Finance. The pair dollar/ruble settled in a tight range, tending to its upper border in the area 65,60 RUB No risks from geopolitics and the renewed growth of oil in coming days could bring the attention of players to the level of 65 rubles.
From world events this week interest the so-called “super Thursday” of the Bank of England which will be able to temporarily distract the players from the notorious theme Brekzita. Tuesday will be the indicators of business activity in the Eurozone, Germany, Britain and the United States. Fresh data will make adjustments to the dynamics of the major currency pairs and can affect investor sentiment in General, if detects significant deviations from forecasts.
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